From Business Standard:
Interventions ahead of Wednesday’s OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran’s Supreme Leader Ayatollah Ali Khamenei and President Hassan Rouhani, OPEC and non-OPEC sources said.
Putin’s role as intermediary between Riyadh and Tehran was pivotal, testament to the rising influence of Russia in the Middle East since its military intervention in the Syrian civil war just over a year ago.
It started when Putin met Saudi Prince Mohammed in September on the sidelines of a G20 gathering in China.
The two agreed to cooperate to help world oil markets clear a glut that had more than halved oil prices since 2014, pummelling Russian and Saudi government revenues. Oil prices are up 10 pct this week topping $53 a barrel.