Moscow: Russian President Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman held an important telephone conversation on Tuesday that highlighted growing cooperation between the two major oil producers, with particular emphasis on the work of the OPEC+ alliance and broader political and economic engagement, the Kremlin said.
The leaders’ discussion coming just ahead of the 100th anniversary of formal diplomatic relations between Russia and Saudi Arabia on February 19 underscored an intention to deepen ties not only in energy policy but also across trade, humanitarian efforts, and other bilateral arenas. Saudi state media confirmed that regional and international developments were also topics of mutual interest during the call.
At the core of the conversation was a reaffirmation of shared responsibility within the OPEC+ framework to maintain stability in global energy markets. Together with other key producers, Russia and Saudi Arabia have been navigating global oil pricing and supply dynamics amid fluctuating demand and geopolitical uncertainty. Recent decisions by the group have upheld a cautious approach to output, choosing to keep production levels unchanged for March 2026 in an effort to support market balance.
The Kremlin’s statement emphasized that both leaders agreed to intensify cooperation not only on oil but in broader political and economic domains. “Bilateral relations have reached a high level and acquired a truly multifaceted and mutually beneficial nature,” the statement read, reflecting an increasingly robust partnership between Moscow and Riyadh.
Saudi Arabia’s official media also stressed that the conversation extended to regional and global developments, signaling shared concern with geopolitical trends beyond the energy sector. While specific details on these issues were not publicly disclosed, analysts see the dialogue as part of a sustained effort to align interests on matters ranging from Middle Eastern stability to shifting global energy demand patterns.
These ties have grown in visibility over the past year, with both capitals navigating external pressures and opportunities from engagement on OPEC+ strategy to wider diplomatic outreach in a complex global environment.
The OPEC+ grouping which includes Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman recently decided to hold production steady through March 2026, emphasizing the importance of market fundamentals and the need to manage inventories carefully. This cautious stance comes against a backdrop of geopolitical tensions and ongoing adjustments in global supply chains.
For Moscow and Riyadh, continued coordination within OPEC+ is seen as crucial to preventing abrupt price swings that could destabilize global markets. Maintaining a careful equilibrium between supply and demand remains a priority as the world economy adjusts to post-pandemic shifts and heightened geopolitical risk.
The telephone conversation reflects not just transactional energy diplomacy but a deeper, strategic dialogue that bridges economics and geopolitics. As Russia and Saudi Arabia prepare to mark a century of formal diplomatic relations, their leaders’ engagement on matters of mutual concern from energy market stability to global developments signals a commitment to maintaining influence and cooperation on the global stage.
Further talks and coordination efforts are anticipated in the months ahead, particularly as OPEC+ continues to respond to evolving market conditions and as geopolitical developments shape energy demand and supply dynamics worldwide.