Igor Sechin, the head of Russia’s largest oil producer Rosneft, said on Thursday that Saudi Arabia’s position on the global oil market was “reasonable” and based on analysis of oil supply and demand.

The OPEC+ group of global leading oil producers, which includes Saudi Arabia and Russia, agreed earlier this month to cut its combined output by 2 million barrels per day despite opposition from the United States, which wants lower fuel prices.
Source: Reuters (Reporting by Nailia Bagirova and Olesya Astakhova; writing by Vladimir Soldatkin)