MOSCOW- Russian President Vladimir Putin is set to embark on a rare foreign trip, meeting with Saudi Crown Prince Mohammed bin Salman in Saudi Arabia on Wednesday. The discussions are expected to cover crucial topics such as oil production, OPEC+ cooperation, and ongoing conflicts in the Gaza Strip and Ukraine.

Putin, who arrived in Abu Dhabi for talks with UAE President Sheikh Mohammed Bin Zayed Al Nahyan, emphasized the high level of relations between Russia and the UAE. The leaders are slated to address energy collaboration within OPEC+ and delve into geopolitical issues, including the Israeli-Hamas conflict and the situation in Ukraine.

This marks Putin's first face-to-face meeting with Crown Prince MbS since October 2019. The agenda includes talks on oil markets, the war between Israel and Hamas, as well as broader regional issues like Syria and Yemen. A Kremlin aide noted that the discussions would also touch upon the stability of the Gulf region, with Ukraine featuring on the agenda.

Putin's visit comes amidst falling oil prices despite OPEC+'s commitment to reducing output. The meeting between Russia and Saudi Arabia, which together control a significant portion of global oil production, reflects their shared interest in maintaining high oil prices. The leaders aim to navigate the complexities of burden-sharing to stabilize the oil market.

In addition to the Saudi meeting, Putin is scheduled to host Iranian President Ebrahim Raisi in Moscow on Thursday, further underlining Russia's diplomatic engagements amid tensions with the West. Putin and MbS, both facing Western criticism, have historically maintained close ties, navigating challenges such as the fallout from journalist Jamal Khashoggi's murder.

As Putin seeks allies amid Western isolation following Russia's intervention in Ukraine in February 2022, the meeting with MbS holds geopolitical significance. The leaders, while securing their economic interests in oil, are likely to discuss strategies for regional influence and cooperation in the face of global challenges.

OPEC+'s recent delays and disagreements over production levels add a layer of complexity to their discussions, highlighting the intricate balance required to sustain oil prices.