Russia and Saudi Arabia Reaffirm Energy Ties Amid Israel-Hamas Conflict

Oil prices spiked after Hamas attacks on Israel. Moscow is hosting an energy conference that Putin will address.

Saudi Arabia's Energy Minister visited Moscow to discuss the oil market and prices with Russia amid the Israel-Hamas conflict.

Russia and Saudi Arabia coordinate supply cuts to support oil prices through the OPEC+ group.

Russia is ready to boost fuel supplies to Saudi Arabia and cooperate on nuclear energy, geological exploration and food supplies.

Saudi Arabia and Russia have agreed to continue voluntary oil supply cuts of 1.3 million barrels per day through the end of 2022.