Putin to visit UAE, Saudi Arabia this week ...Middle East

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Putin to visit UAE, Saudi Arabia this week
source : Bloomberg News Today ( Middle East ) () 31
MOSCOW: Russian President Vladimir Putin will visit the United Arab Emirates and Saudi Arabia this week, Russian news outlet Shot reported on Monday, citing Putin’s aide Yury Ushakov. The reported visit comes after the OPEC+ group of oil producers, which includes all three countries, agreed last Thursday to voluntary output cuts totalling about 2.2 million barrels a day. Markets reacted with scepticism to the deal because of doubts about whether the voluntary cuts would be fully implemented. Oil prices fell 2% last week after the announcement, and declined further on Monday. Brent crude was down nearly 0.6% at $78.45 as of 1709 GMT. The figure of 2.2 million bpd included an extension of ex

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