Saudi Arabia aims to enhance ties with Russia

According to media reports, OPEC’s biggest crude producer Saudi Arabia is aiming to strengthen its ties with Russia ahead of the Saudi King Salman’s upcoming Moscow visit this week.

Saudi Aramco is reportedly looking at signing deals with major Russian producers to develop cooperation in oil and gas services and petrochemicals sector.
According to news appeared in late September, Russia’s largest petrochemical producer Sibur was holding meetings with Saudi Aramco on establishing a joint venture to produce synthetic rubber.

Saudi Arabia is also seeking an understanding with Russia to extend an agreement on curbing oil supplies to the end of 2018, for which Russia signals an approval.