OPEC and Russia are looking to solidify their cooperation on crude oil production for another decade or two, Saudi Crown Prince Mohammed bin Salman told Reuters in an interview while on a visit to the United States. “We are working to shift from a year-to-year agreement to a 10-20 year agreement,” the Crown Prince of OPEC’s biggest producer and de facto leader said in New York. “We have agreement on the big picture, but not yet on the detail,” the Crown Prince said. The idea to extend the current oil supply cooperation between OPEC and the Russia-led non-OPEC producers into a kind of permanent framework of cooperation emerged last month, after UAE’s Energy Minister Suhail Al Mazrouei said that OPEC and Russia aimed to have a plan for long-term cooperation drafted by the end of 2018 to create a ‘supergroup’ of oil producers. Earlier this week, Saudi Arabia’s Energy […]