OPEC seeks long-term cooperation with Russia

Baku. 28 March. REPORT.AZ/ OPEC is seeking “very long-term” cooperation with other crude exporters including Russia.

Report informs citing the Reuters, Saudi Crown Prince Mohammed bin Salman said on Wednesday.

Russia, the world’s biggest oil producer, has worked with the 14-member Organization of the Petroleum Exporting Countries in previous oil gluts to rein in supplies and push up prices, but a 10 to 20-year deal between the two would be unprecedented.

According to Saudi Crown Prince, there is such an agreement, but its details have not yet been worked out.