Search

x
Join our whatsapp channel for News Updates

Putin, Saudi Prince hail ties after oil-supply deal extended

09:09 PM | 30 May, 2017
Putin, Saudi Prince hail ties after oil-supply deal extended
MOSCOW - Russian President Vladimir Putin has met Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman in Moscow. It's the first meeting since the world’s two largest oil producers agreed last week to extend a deal to cut production.

This is very significant and “our coordinated actions helped stabilize the situation on the world hydrocarbons market,” Putin said Tuesday at the Kremlin meeting.

“We’re grateful for your initiative to work together on joint actions between OPEC countries and non-members,” added the Russian President.

Putin said that after a lull in business between the two, this year trade between Russia and Saudi Arabia had grown 130 percent.

The Organization of the Petroleum Exporting Countries (OPEC) and other oil producers lead by Russia, agreed last week to cut oil production until the end of the first quarter of 2018, nine months longer than originally planned.

However, crude prices have been sliding since the deal was reached as investors were disappointed the meeting did not produce deeper cuts.

Oil prices were significantly down on Tuesday, with Brent crude trading nearly a dollar lower at $51.29 per barrel. US West Texas Intermediate (WTI) was down 63 cents at $49.17.

The writer is a staff member. He has been affiliated with Pakistan's leading English newspapers and worked as News Producer at FM 107.4. Death (as...he believes...life is a station, and death is a longest journey from seen to unseen world), Rain, and winter's Full Moon 'Jarray ki Chandani' always fascinate him too much.

Advertisement

Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 17 April 2024

Pakistani currency saw minor adjustment against global currencies on April 17, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293.15 for buying and 296.1 for selling while British Pound stands at 344.25 for buying, and 347.6 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 17 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.4
Euro EUR 293.15 296.1
UK Pound Sterling GBP 344.25 347.6
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 201 203
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.26 911.26
Malaysian Ringgit MYR 58.24 58.84
New Zealand Dollar NZD 164.75 166.75
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.37 77.07
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter