Saudi Arabia and Russia signed a cooperation agreement in the oil market, including the possibility of limiting production, supporting a rise in crude prices, with expectation that countries will act together to deal with the excess supply. last Friday the Minister of Foreign Affairs of Saudi Arabia, Adel al-Jubeir, said he was optimistic about a future consensus producers around the crude production. “it is an evolving process and see what happens at the meeting in Algeria. I am very optimistic,” that the minister quoted by Reuters. the agreement was signed by the energy ministers of Saudi Arabia and Russia, in China, under the G20 summit, following a meeting between Russian President Vladimir Putin and Saudi prince Mohammed bin Salman. the Minister of Russian energy Alexander Novak said that the two countries are to address a strategic alliance in power. Yesterday, Brent crude oil continued to trade at around $ 46 per barrel and WIT just above $ 44 per barrel. But today the price of Brent crude oil, which is a reference to Portuguese imports, up 1.2% to $ 47.4 per barrel and in New York advancing 1.5% to $ 45.1 per barrel. following the fall in the price of raw materials, fuel the car was cheaper this week in Portugal.
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