Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Russia's Putin discusses oil market with Saudi crown prince, stresses coordination

Commodities | Energy | Oil | Crude Oil | Oil Risk | Coronavirus

A new benchmark for American crude to move on from a negative experience


Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Electric Power | Nuclear

US senators urge agency not to allow funding of 'risky' nuclear projects

Russia's Putin discusses oil market with Saudi crown prince, stresses coordination


Russian government stresses "close coordination" of oil markets

OPEC+ to meet June 8-10 via webinar as lockdowns ease

Putin and Saudi Crown Prince note importance of joint efforts

Moscow — Russian President Vladimir Putin discussed the oil market with Saudi Arabia's Crown Prince Mohammed bin Salman on Wednesday and agreed the need for "close coordination" between their respective energy ministers ahead of OPEC talks next month, according to a Kremlin statement.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"Both sides noted the importance of joint efforts in achieving OPEC+ agreements in April to limit oil production," said the statement. "They agreed that further close coordination on this issue should take place between energy ministers."

The group is due to meet between June 8-10 to discuss oil market conditions, its current production agreement, and potential future steps. In April, the 23 members of the so called OPEC+ alliance agreed to reduce output by an unprecedented 9.7 million b/d in May and June in response to plummeting demand caused by the coronavirus pandemic.

Since then, Saudi Arabia has said it will voluntarily cut a further 1 million b/d in June. The UAE and Kuwait said they will cut an additional 100,000 b/d and 80,000 b/d, respectively.

The current agreement also includes a cut of 7.7 million b/d in the second half of the year, and 5.8 million b/d cut from January 2021 to the end of April 2022.

Dated Brent has more than doubled in value since hitting a 21-year low in April. Prices have recovered as major consuming nations begin to ease lockdowns and producers reduce supplies.