Sunday, 22 October, 2017

Saudi Arabia is flexible on oil cuts pact, all options open - Falih

Saudi king to make historic visit to Russia MOSCOW Petroleumworld 10 04 2017
Andrew Cummings | 07 October, 2017, 00:48

Relations between the world's two largest oil-export nations have often been strained.

Heading a high-ranking delegation Saudi King Salman bin Abdulaziz Al Saud is on an official trip to Moscow.

King Salman reviews an honour guard.

Russian President Vladimir Putin admitted that he once met United States President Donald Trump, but said he has no personal ties with him.

At the core of Saudi Arabia's regional woes is its rival Iran, which is backed by Russian Federation.

Along with S-400 anti-aircraft missiles, Saudi Arabia is also set to buy Kornet anti-tank guided missile systems and multiple rocket launchers.

At the Kremlin's opulent St. Andrew's Hall, Putin in televised remarks hailed the king's visit as a "landmark" event.

Vedomosti newspaper reported that Saudi Arabia's sovereign fund is also eyeing investment into a toll road project in Moscow, which would be the first one for the capital. "Saudi Arabia cannot ride out the low oil price to the extent that many people thought it could", the analyst said on Thursday night.

Trump may decertify landmark Iran nuclear deal
In a meeting with the military leaders, Trump emphasised that Iran must not be allowed to obtain the nuclear weapons. Trump on Thursday accused Iran of supporting terrorism and exporting "violence and chaos across the Middle East".

Saudi King Salman cements new friendship with Putin on landmark Russian Federation visit
If the Saudis make direct investments in Russian assets, this will undoubtedly show influence on the entire oil market. Both Falih and Nasser are part of an official Saudi visit to Moscow .

Greece Violates Treaty With Russia by Extraditing Vinnik to US - Civic Chamber
Vinnik, a 37-year-old Russian national, has been indicted by a USA grand jury on 21 counts related to financial crimes. Vinnik's attorneys have already filed a formal challenge with Greek's highest court, the AP report said .

More recently, tensions were high over the war in Syria. Saudis are due to stage another meeting of the Syrian opposition in Riyadh in the middle of the month in a bid to unify the Syrian opposition and restructure its political demands.

President Vladimir Putin said on Wednesday that a military strike against North Korea created to destroy its nuclear and missile program might not succeed because Pyongyang could have hidden military facilities that nobody knows about.

"The Russian president has proven that he doesn't abandon his friends when they are in trouble", read an article published by the state-run RIA Novosti news agency.

"We emphasise that the security and stability of the Gulf region and the Middle East is an urgent necessity for achieving stability and security in Yemen", the king said.

But prices are still half their mid-2014 levels.

OPEC members have joined with Russian Federation and other countries in cutting crude output in a pact that has helped prop up prices.

"When we decide on whether to extend or not, we will decide on the time frame; but on the whole, if speaking about a possible extension, this should be at least until the end of 2018". Oil rose after Mr Putin's statement.

Russia and Saudi Arabia have agreed to develop cooperation in the fields of space exploration and energy, including nuclear energy, Russian Foreign Minister Sergey Lavrov said.

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