Setting differences aside, Saudi-Russian courtship underpins oil prices

London

SAUDI Arabia and Russia are at odds on pretty much everything: the war in Syria, policies on Iran, ties with Washington. But when it comes to propping up global oil prices, they've never been more aligned.

Just look at how the world's two biggest oil producers united last week to tell markets they want to maintain output curbs for an extra nine months. Coordinated leaks and official statements from Riyadh and Moscow - circulated even before the Saudis sit down to agree the cuts with the Organization of the Petroleum Exporting Countries (Opec) this Thursday - sent oil rallying more than 5 per cent within days.