Sports

Don't expect Vladimir Putin to give up newfound role as OPEC's 'co-pilot'

Don't expect Vladimir Putin to give up newfound role as OPEC's 'co-pilot'

Saudi Arabia's energy minister said that Russian Federation has helped to breathe new life into OPEC and that shale can be a major contributor to the market in years to come. "There are many regional problems there", he stated.

The visit comes after decades of tensions, most recently over the war in Syria, where Saudi Arabia had backed the Sunni rebels fighting to oust President Bashar Assad, while Iran had teamed up with Russian Federation to strengthen his control.

Saudi King Salman arrived in Moscow on Wednesday on the first ever visit by a Saudi monarch to Russian Federation.

The first thing that comes to mind when discussing the relations between the two countries is the Syrian issue.

"I am sure that your visit will provide a good impulse for the development of relations between our two states", Putin told Salman later as they sat alongside each other in the Kremlin's lavishly-decorated Green Parlour.

However, relations have begun to improve in recent years and King Salman's heir, Crown Prince Mohammed bin Salman, has held several meetings with Putin.

The move by OPEC and non-OPEC producers to balance the market is working, but the work is not yet finished, Saudi Arabia's oil minister said from Moscow. He also said he had accepted the king's invitation to visit Saudi Arabia.

The King concluded his speech by officially inviting the Russian president to visit the Kingdom and to continue consultations towards the issues of common interest and enhance bilateral cooperation between the two countries in all fields.

His Saudi counterpart, Adel al-Jubeir, said new horizons had opened for Russia-Saudi ties that he could not previously have imagined.

Through King Salman's visit to Russian Federation, a new phase of a coalition began based on joint interests that will be reflected on the region's stability and security which is a strategic goal both Riyadh and Moscow aim to reach.

King Salman's visit coincides with a Russia-Saudi investment forum in Moscow in which more than 200 firms are taking part. He also referred to a 2015 deal when the Public Investment Fund (PIF) agreed to invest $10 billion in Russian Federation. US light crude was up 10 cents at $50.08.

Putin said Russia had more reason than most to be concerned by Pyongyang's missile program, saying that North Korea's nuclear testing range was located just 200 kilometers (124.27 miles) from the Russian border.

The Saudi monarch's visit comes after decades of strained relations.


  • Many questions after Equifax revises it's potential victims to 145.5 million

    Many questions after Equifax revises it's potential victims to 145.5 million

    Equifax since sent out a statement retracting that language and saying consumers could sue, which they have started to do . Heidi Heitkamp, D-N.D., said Equifax forced the IRS to take the contract for another year after issuing a protest.
    Saudi king arrives in Russian Federation  for first visit

    Saudi king arrives in Russian Federation for first visit

    There has also only ever been one official state Russian visit to Saudi Arabia , by President Vladimir Putin in 2007. The royal entourage includes Saudi energy minister Khalid Al Falih, who will attend an investment forum in Moscow .
    Las Vegas gunman's father was on FBI's Most Wanted list

    Las Vegas gunman's father was on FBI's Most Wanted list

    Law enforcement authorities are hoping to obtain some answers from Danley, who has been identified as Paddock's live-in companion. Ms Danley had been out of the country for weeks before the shooting, but had been named as "a person of interest".
  • Danger behind the wheel: High tech distractions

    Danger behind the wheel: High tech distractions

    The tasks included making calls, sending a text message, changing the radio and programming navigation while driving. Removing eyes from the road for just two seconds doubles the risk for a crash, according to AAA's earlier research.
    Mom gets jail over refusal to vaccinate son

    Mom gets jail over refusal to vaccinate son

    Rebecca Bredow has been sentenced to seven days in jail after she refused a judge's order to have her son vaccinated . And the record, I urge you to review it and what you just said, that he has a newfound objection is not true.
    Reasons Why Investors Love Netflix's New Price Hike

    Reasons Why Investors Love Netflix's New Price Hike

    Stranger Things avoiding a sophomore slump in it's much- anticipated second season wouldn't hurt either. The basic plan will stay the same price of $7.99, just as it has since the plan was created in 2010.
  • Nadal into quarter-finals, Peng Shuai retires at China Open

    Nadal into quarter-finals, Peng Shuai retires at China Open

    World No. 1 Garbine Muguruza and reigning champion Agnieszka Radwanska are both out, leaving world No. 2 Halep as the favourite. It's an important victory for me, of course, against a player that arrived here playing so well, winning two great matches.
    Wrong to label Las Vegas shooting as terror, says White House

    Wrong to label Las Vegas shooting as terror, says White House

    As for the investigation into the shooting, he said: "Yeah, they're learning a lot more". Danley arrived late Tuesday at Los Angeles International Airport from the Philippines .
    Hurricane Nate may impact Florida this weekend with heavy rain, wind

    Hurricane Nate may impact Florida this weekend with heavy rain, wind

    The governments of Honduras and Nicaragua have issued tropical storm warnings ahead of the storm as it makes its way northward. Little change in strength is expected today as the center of Nate moves across northeastern Nicaragua and eastern Honduras.
  • Bundesliga matches and counting - Heynckes' Bayern return in Opta numbers

    Bundesliga matches and counting - Heynckes' Bayern return in Opta numbers

    Despite winning the Bundesliga in his first season, Ancelotti was on shaky ground after a poor start to the league this season. Heynckes added: "I wouldn't have returned to any other club in the world, but Bayern Munich is a love affair for me".
    Las Vegas shooter also considered Boston and Chicago

    Las Vegas shooter also considered Boston and Chicago

    She said in a statement released by her lawyer that she feared that might be his way of breaking up with her, but nothing more. They observed the suspect down on the ground and also saw a second door that could not be accessed from their position.
    Miley Cyrus Dishes on Relationship With Liam Hemsworth

    Miley Cyrus Dishes on Relationship With Liam Hemsworth

    Then Miley Cyrus took the chair and hailed Hillary as a "voice of reason in uncertain times". You are smart, strong, and deserving of every opportunity.