Putin-Rouhani Talk Helped OPEC Deal

A phone talk last month between Russia's President Vladimir Putin and his Iranian counterpart Hassan Rouhani, just before an OPEC meeting, played a part in helping to reach a deal on cutting oil output, RIA news agency quoted Iran's Ambassador to Moscow Mehdi Sanai as saying, Reuters reported. OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. In a telephone conversation, the two leaders reportedly said the group's efforts were “an essential element” for returning stability to global oil prices. During their conversation, the two leaders also “agreed to continue to coordinate their efforts on the world energy markets, including the dialogue on energy between Russia and OPEC,” the report said.