Saudi prince to meet Putin in Russia, What it means for Oil?

Saudi’s state news agency, SPA, reported on Tuesday that Saudi Arabia's deputy crown prince Mohammed bin Salman will hold talks with the Russian president Vladimir Putin on issues of mutual interest, as cited by Reuters.

It’s worth noting that when the two met in Beijing last year, they set-off talks on an output cut agreement between OPEC and non-OPEC oil producers.

Meanwhile, both crude benchmarks are trading largely subdued, with WTI down -0.20% sub $50 mark, while Brent drops -0.50% to $ 52.40 levels.