The agreement between Saudi Arabia and Russia to extend the production cuts within the OPEC+ format will make sure oil markets are stable, Saudi Energy Minister Khalid al-Falih said in a tweet.
Al-Falih said: "Once again, the agreement confirms that the Saudi-Russian partnership paves the way for guaranteeing the interests of producers and consumers and sustaining the growth of the world economy."
Earlier, Russian President Vladimir Putin confirmed the deal on an oil production cuts between Moscow and Riyadh while Russian Energy Minister Alexander Novak hinted the cuts may be extended for another nine months.
