"Today, Russian President Vladimir Putin had a phone conversation with U.S. President Donald Trump and Saudi Arabia King Salman bin Abdulaziz Al Saud," the Russian president's press office said in a statement on Thursday.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, kicked off an extraordinary video conference on Thursday to discuss oil production cuts.
U.S. President Donald Trump said Thursday that he believes Russia and Saudi Arabia are close to reaching a deal to cut oil production amid rock-bottom prices.
"The conversation was very good. They're getting close to a deal. That's OPEC and many other countries outside of OPEC," Trump said at a White House briefing after talks with Russian and Saudi leaders.
Coupled with a price war between Saudi Arabia and Russia, oil prices have plummeted amid the COVID-19 outbreak as global fuel demand has plunged due to a drop in air traffic and production shut-downs.