*SAUDI ARABIA SAYS NEW OIL CUTS SHOW TEAMWORK WITH RUSSIA IS STRONG 🇸🇦🇷🇺
VIENNA - Russia-Saudi oil cooperation is still going strong as part of the OPEC+ alliance, which will do"whatever necessary" to support the market, Saudi Energy Minister Prince Abdulaziz bin Salman told a conference on Wednesday.
Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil supply cuts on Monday in an effort to send prices higher.futures almost flat at $76.30 per barrel as of 1440 GMT, remaining below the $80-$100 per barrel that most OPEC nations need to balance their budgets. The United States, the biggest oil producer outside OPEC+, has repeatedly called on the group to boost production to help the global economy and has criticised Saudi cooperation with Russia after Moscow's invasion of Ukraine.
"Part of what we have done with the help of our colleagues from Russia was also to mitigate the cynical side of the spectators on what is going on between Saudi and Russia on that specific matter," Prince Abdulaziz said.
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