Saudi Arabia denies contact with Russia over OPEC+ deal – Arab News

Saudi Arabia denies contact with Russia over OPEC+ deal – Arab News

Saudi Arabia denies contact with Russia over OPEC+ deal /node/1648606/business-economy. Direct Investment Fund CEO Kirill Dmitriev has called for joint action by countries to ease turmoil in global energy markets.. DUBAI: Saudi Arabia has denied it has had any contact with Russia's Energy Ministry over the possibility of a new OPEC+ deal to rebalance global oil markets.. "Joint actions by countries are needed to restore the global economy.. "We are in contact with Saudi Arabia and a number of other countries.. Conditions in global energy markets have changed signifi- cantly since Saudi Arabia and Russia failed to agree bigger cuts to oil supply earlier this month.. Lower oil prices are especially worrying for the American shale industry, which has much higher production and finance costs than either Saudi Arabia or Russia.. The energy industry did not feature in the "virtual" summit of the G20 group of nations organized by the Saudi Arabian presidency last Thursday, but before the meeting Pompeo asked Crown Prince Mohammed bin Salman to "reassure global energy and financial markets.. A virtual G20 summit - but it offered genuine reassurance /node/1648581/business-economy. Saudi Arabia, host of this year's G20 Summit, called the event on short notice