New Delhi, Dec. 7 -- Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday, December 7, called for all member nations of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to join an agreement on output cuts 'for the good of the global economy'.

Hours after Russian President Vladimir Putin went to Riyadh in a hastily arranged visit to meet Saudi Crown Prince Mohammed bin Salman, the Kremlin released a joint Russian-Saudi statement about the conclusion of their discussions.

The Organization of the Petroleum Exporting Countries, Russia and other allies agreed last week to new voluntary cuts of about 2.2 million barrels per day (bpd), led by Saudi Arabia and Russia rolling over their voluntary cu...