Putin calls the Saudi crown prince, and the latter offers mediation

Putin calls the Saudi crown prince, and the latter offers mediation
Putin calls the Saudi crown prince, and the latter offers mediation

On Thursday, Saudi Crown Prince Mohammed bin Salman announced the kingdom's readiness to play a mediating role between Russia and Ukraine with the aim of ending the war.

And the Saudi Press Agency said that Mohammed bin Salman affirmed, in a phone call he received from Russian President Vladimir Putin, that the kingdom is ready to make efforts to mediate between all parties. 

And he expressed to him the Kingdom's support for efforts that lead to a political solution to the ongoing war in Ukraine leading to its end and achieving security and stability  according to what the Saudi Agency reported.

With regard to the impact of the Ukraine crisis on energy markets, Mohammed bin Salman reiterated his country's keenness to maintain the oil market's balance and stability, noting the role of the  OPEC Plus  agreement in that and the importance of maintaining it.

On Wednesday, Saudi Arabia, Russia and other major oil producers agreed to continue increasing production only gradually despite the Russian invasion of Ukraine, which sent crude prices higher.

The price of both West Texas Intermediate and Brent crude crossed the threshold of $110 a barrel on Wednesday, bringing Brent crude to its highest level in 2014, while WTI reached levels not seen since 2013.

But the OPEC + group of 23 countries decided to stick to its agreement concluded last year, to increase production by 400,000 barrels per day in April as well.

Saudi Arabia, the leader of the Organization of Petroleum Exporting Countries (OPEC), confirmed, on Sunday, the commitment of the group, which includes 13 countries, to an agreement with its 10 partners in OPEC + led by Moscow, which is facing international criticism and sanctions over its invasion of Ukraine.

The Saudi Press Agency reported that Crown Prince Mohammed bin Salman  confirmed the Kingdom's keenness on the stability and balance of oil markets. 


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