Saudi Arabia, Russia Strike Oil Output Cut Deal
Russian President Vladimir Putin © David Goldman / Reuters

Russia and the Saudi Arabian government have reached a deal to cut oil production, according to the Russian President Vladimir Putin.

This followed talks at a G20 summit with Saudi Crown Prince Mohammed bin Salman, Putin said on Saturday.

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Russia has been partnering with the Organization of the Petroleum Exporting Countries (OPEC), aiding them to make a rebound after a 2014 oil price slump.

“We are going to work together with Saudi Arabia,” Putin said in Buenos Aires.

“We are going to survey together the market situation with Saudi Arabia and respond to it operationally.”