On Friday, Saudi Crown Prince Mohammed bin Salman received a phone call from Russian President Vladimir Putin during which he reviewed the efforts made to stabilize and maintain energy markets to support the growth of the global economy.
During the call, it was stressed the importance of the cooperation of all producing countries in this, according to the Saudi Press Agency "SPA".
The Organization of Petroleum Exporting Countries (OPEC), announced Friday, that the countries exporting crude, with the exception of Mexico, agreed to a reduction in global production in May and June, of 10 million barrels per day.
The organization said in a statement, that the agreement, which also stipulates that the reduction to 8 million barrels per day from July to December next, will require Mexico's approval to enter into force.
The agreement also provides for a reduction of 6 million barrels per day between January 2021 and April 2022.
The statement was issued after a long closed-circuit meeting, with the aim of finding a solution to the significant drop in oil prices due to falling demand due to the consequences of the coronavirus.
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