Unlikely allies: Oil brings Saudi king to Moscow

Saudi Arabia and Russian Federation are heavily dependent on oil exports and the plunge of the price of crude that began in 2014 lashed both of their economies. Falih said oil demand was healthy around the world, and there was a steady reduction in global oil inventories.

Salman arrived in Moscow on Wednesday, and it was the first time a Saudi king has ever visited Moscow. Therefore this visit of King Salman is expected to script a new beginning in the region.

King Salman of Saudi Arabia, OPEC's biggest producer, is due to meet Putin on Thursday.

Both Falih and Nasser are part of an official Saudi visit to Moscow.

King Salman of Saudi Arabia will arrive in Russian Federation this week to conduct the first official visit to the country by a Saudi king, a senior Kremlin aide said Monday.

King Salman, the first sitting Saudi monarch to visit Russia, led a delegation to Moscow that agreed joint investment deals worth several billion dollars, providing much-needed investment for a Russian economy battered by low oil prices and Western sanctions. "But as I think of fundamentals I am more optimistic than I have been in the last two or three years, demand is healthy around the world in developed and developing countries".

Assessing the results of the Thursday talks, King Salman bin Abdulaziz al-Saud emphasized that the outlook of Moscow and Riyadh on many regional and global problems coincide.

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Russian President Vladimir Putin said on Wednesday that he has not decided on whether he would run for presidency again in 2018.

Both sides are involved in the conflict, but on opposing sides.

"Venezuela has the full and absolute support of Russia", Maduro said in August, calling Putin a "man of peace".

She also expressed her gratitude to the Saudi foreign minister for his cooperation with Moscow, especially with his Russian counterpart Sergei Lavrov.

"Some forces are making use of Russian-American relations to resolve internal political problems in the United States", Putin was quoted as saying.

Saudi Arabia's investment in Russian Federation has already amounted to $1 billion, but Russian Federation intends to increase the amount further at least twice. An oversupplied market past year, brought on by USA oil production and OPEC members working to defend market shares with more output, helped pushed the price of oil below $30 per barrel.

The two leaders discussed a wide range of issues including the potential extension of the OPEC+ oil production cut agreement, the Syrian crisis, security issues, defense collaboration and cooperation in the exploration and use of outer space for peaceful purposes.

  • Sonia Alvarado