Published: Sun, June 30, 2019
Global News | By Blake Casey

Japan's Abe offers Saudi crown prince help in reducing oil dependency

Japan's Abe offers Saudi crown prince help in reducing oil dependency

Russian Federation and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday.

US President Donald Trump touches the shoulder of Saudi Arabia's Crown Prince Mohammed bin Salman, on his arrival at the session 3 on women's workforce participation.

"With you Mr. President we did a lot of great achievements, in the political side, security side, military side, and economical side", the Crown Prince said during a working breakfast on the sidelines of the G20 summit in Japan.

But "nobody so far has directly pointed a finger at the future king of Saudi Arabia", Trump added.

PM @narendramodi met with Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud on the margins of the #G20.

Increasing heat and humidity for holiday week
Not every town will see one but any storm that develops could pack a punch with strong winds, heavy rain and frequent lightning. Heat ramps up on Sunday as Grand Strand temperatures climb into the lower 90s and the Pee Dee reaches the middle 90s.

New U.S. sanctions on Iran have reduced its exports to a trickle as Washington seeks to change what it calls a "corrupt" regime in Tehran.

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund who helped design the OPEC-Russia deal, said the pact in place since 2017 had lifted Russian budget revenues by more than 7 trillion roubles ($110 billion).

According to the White House, the pair had a "productive meeting" where they discussed "Saudi Arabia's critical role in ensuring stability in the Middle East and global oil markets, the growing threat from Iran, increased trade and investments between the two countries, and the importance of human rights issues". But prices could stall as a slowing global economy squeezes demand and USA crude floods the market, a Reuters poll of analysts found. "But on the other hand, there are so many uncertainties", Novak said.

Saudi Prince Salman, who is also the Gulf nation's defence minister, visited India in February on his first official visit to the country.

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