Russian President Vladimir Putin on Tuesday discussed cooperation on oil and the conflict in Syria with powerful Saudi Deputy Crown Prince Mohammed bin Salman at a meeting in the Kremlin.
Oil producers within and outside the OPEC cartel last week agreed to extend a November accord to cut crude production by nine months in a move spearheaded by Moscow and Riyadh.
"We are grateful to you for your ideas and joint work on the combined steps by OPEC members and non-members," Putin told 31-year-old Prince Mohammed, who is also the country's defense minister, the Interfax news agency reported.
"The actions we agreed are helping to stabilize the situation on the world hydrocarbon markets."