>> Reuters has learned exclusively that Saudi Arabia and Russia are working toward a long term oil deal with a potential to remake global energy markets. Saudi Crown Prince Mohammed Bin Salman told Reuters in an interview that Riyadh and Moscow are considering extending a short term agreement curbing oil production into a possible 10 to 20 year alliance.
The two nations agreed last year to cut production in an effort to stabilize prices after they dropped below $30 a barrel. Reuters foreign policy editor Yara Bayoumy.>> I mean, if we were to see a long-term agreement between Saudi Arabia and Russia, and Russia, of course, is not an OPEC member, on curbing oil supplies, then that would really dramatically change the global energy environment.
Because it would mean that these two powers are interested in seeing oil prices stay at a particular level, which, of course, is needed to support, in part, both of their economies as well.>> Thank you, Mr. President. Actually the relationship between Saudi Arabia and Americans
].>> Crown Prince Salman, or MBS, as he's known in the West, is currently on a tour across the United States.
The trip comes after a wave of arrests in Saudi Arabia. The kingdom called the efforts part of an anti-corruption crackdown. Critics say Salman was purging his political opponents and cementing his power. The move send waves of uncertainty through the global business community.>> Mohammad bin Salman, or MBS' mission, part of his mission, on this trip is to try and tell foreign investors there's nothing to worry about, and you should come and invest here, and there are plenty of opportunities to invest in.
>> After visiting Washington and New York, MBS travels to Los Angeles and Silicon Valley.