Russian And Saudi Foreign Ministers Meet To Discuss Oil Policy

Russia's Foreign Minister Sergei Lavrov meets with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al Saud in Riyadh, Saudi Arabia May 31, 2022. Russian Foreign Ministry/Handout via REUTERS  

Reuters: Russia and Saudi Foreign Ministers Praise OPEC+, Says Moscow 

(Reuters) -Russian Foreign Minister Sergei Lavrov met Saudi counterpart Prince Faisal bin Farhan Al Saud in Riyadh on Tuesday and both men praised the level of cooperation inside OPEC+, the Russian foreign ministry said. 

The comments were issued amid Western media reports that some members of OPEC+, an alliance of OPEC members and their allies, were considering removing Russia from the group. 

"They noted the stabilising effect that the tight cooperation between Russia and Saudi Arabia has on world markets for hydrocarbons in this strategically important sector," the ministry said in a statement on its website. There was no immediate comment from Saudi Arabia outside of business hours.  

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Update: Russia's Lavrov Hails OPEC+ Cooperation on Visit to Saudi Arabia (Bloomberg)  

WNU Editor: It looks like it was a successful meeting .... Russia, Saudi Arabia Signal OPEC+ Is Going Strong (OilPrice.com).

Update #2: No, OPEC+ Isn't About To Break Up And No, Saudis Aren't About To Pump More Crude (Zero Hedge).