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Saudi king to make historic visit to Russia

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Russian President Vladimir Putin hosted Saudi Arabia's King Salman for talks in Moscow on Thursday in the first official visit of a Saudi monarch to Russia that was expected to focus on oil and the war in Syria.

Maduro on Wednesday thanked Russian President Vladimir Putin for his support in hard times.

The agreement requires OPEC and non-OPEC producers, led by Russian Federation, to cut a combined 1.8 million bpd in supplies through March to hasten the market's rebalancing.

According to the Russian minister, the Russia-Saudi Arabia intergovernmental commission will meet in late October in Riyadh for the fifth time.

Trade between the two countries peaked in 2013, reaching 2.445 billion dollars, but in 2016, it dropped to 336 million dollars.

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In reply to the question about possible consequences from Turkey's warning that it could cut oil supplies from Iraqi Kurdistan in connection with the referendum, Putin said this "will tell on global energy markets, pushing the prices up".

King Salman has become the first sitting Saudi monarch to visit Russian Federation.

"We strive to continue the positive cooperation between our countries to achieve stability on world oil markets which promotes the growth of the world's economy", King Salman said.

The report came during a visit by Saudi King Salman to Moscow.

Putin said Russia had more reason than most to be concerned by Pyongyang's missile program, saying that North Korea's nuclear testing range was located just 200 kilometers (124.27 miles) from the Russian border.

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The two have profound disagreements on Syria - where more than 330,000 people have been killed since war erupted in 2011 - and Yemen, where a Saudi-led coalition has been bombing Houthi rebels since 2015, drawing criticism from Moscow.

He also said the two agreed on the importance of fighting terror and of finding peaceful solutions to conflicts in the Middle East.

"King Salman does not do courtesy calls so it can be reasonably assumed that his first official visit to the Russian capital is a serious event", wrote Chris Weafer, a senior partner at Macro-Advisory, a consultancy.

"But I think few are interested in this", he said.

The king has brought a massive delegation of Saudi businessmen with him, and the two parties are expected to negotiate new investment deals, including in the energy sector.

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