Aramco had been looking to restructure the deal after SABIC’s market value fell more than 40% due to an oil price slump.

Iraq will stick to its quota in June and July and will make further reductions later on

OPEC+ agreed the option of extending the first phase of the production adjustments pertaining in May and June by one further month.

Saudi Arabia's total oil export revenue for Q1 was Riyal 149.95 billion, down from Riyal 192.03 billion for the same quarter the previous year.

A delegate-level OPEC+ technical committee, co-chaired by Saudi Arabia and Russia, is scheduled to meet June 5 to discuss market conditions and review compliance.

Since the COVID-19 crisis began, the PIF has spent $7.7 billion amassing a portfolio of shake stakes in some of the best-known corporate brand names in the world, including Boeing, Disney, Facebook and Marriott International.

Russian President Vladimir Putin discussed the oil market with Saudi Arabia's Crown Prince Mohammed bin Salman on Wednesday

China's crude oil imports from Russia rose 17.7% year on year to 7.2 million mt or 1.76 million b/d in April,

The $300 billion Public Investment Fund bought stakes in global corporate leaders such as Boeing, Facebook, Disney, Marriott and Starbucks. It also invested in two big US banks, Citigroup and Bank of America, and took holdings in oil giants BP, Total and Royal Dutch Shell.

По итогам переговоров стороны отметили в совместном заявлении, что Россия и Саудовская Аравия твердо привержены достижению рыночной стабильности и ускорению восстановления баланса на нефтяном рынке.