Putin, Saudi crown prince agree further coordination on oil output cuts - Kremlin
MOSCOW (Reuters) - Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman agreed during a telephone call on further 'close coordination' on oil output restrictions, the Kremlin said on Wednesday, just two weeks before an online oil conference. It said they also both noted the importance of joint efforts aimed at reaching the agreements within the OPEC+ group in April on oil production curbs
MOSCOW (Reuters) - Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman agreed during a telephone call on further "close coordination" on oil output restrictions, the Kremlin said on Wednesday, just two weeks before an online oil conference.
It said they also both noted the importance of joint efforts aimed at reaching the agreements within the OPEC+ group in April on oil production curbs.
"It was agreed upon further close cooperation on this topic via the energy ministries," the Kremlin said in a statement.
The Organization of the Petroleum Exporting Countries and other large oil producers led by Russia agreed last month to cut their combined oil output by almost 10 million barrels per day in May and June to tackle the sluggish oil market, which has been hit by overproduction and the coronavirus pandemic.
The OPEC+ group is due to hold an online conference in the second week of June to discuss their further policy.
According to the current deal, the output curbs should be eased starting in July. Various sources have said there are discussions on whether to continue with the current level of production cuts from July onwards.
(Reporting by Vladimir Soldatkin; Editing by Mark Heinrich)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.