Sunday 03, June 2018 by Jessica Combes

Russia, UAE sign partnership deal for oil markets stability

 

The governments have agreed to continue cooperation in the oil and gas sector

Russian President Vladimir Putin and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed of the United Arab Emirates signed a declaration on a strategic partnership on Friday which included an agreement to continue cooperation in the oil and gas sphere, according to Reuters.

This cooperation is aimed at providing balance and stability on the global oil market, the declaration said.

Reuters reported that both leaders attended a signing ceremony following the talks at the Kremlin in Moscow, Russia 1 June 2018 where RPutin told Sheikh Mohammed bin Zayed  that efforts by the Organization of the Petroleum Exporting Countries (OPEC) have been good for oil prices.

“Our joint efforts, including those of our friends in Saudi Arabia and in OPEC in general, have yielded good results for the stabilization of the hydrocarbon market,” Putin said.

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