Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (REUTERS/Hamad I Mohammed/File Photo)
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Russian pension funds are considering investing in Saudi Arabian state oil major Aramco when it lists its stock in a move to strengthen the partnership between the world's two top oil producers, Russia's top state investment officer said.The head of Russia's Direct Investment Fund, Kirill Dmitriev, told Reuters on Tuesday that Moscow and Riyadh should be coordinating oil policies for many more years.Non-OPEC Russia and OPEC led by Saudi Arabia agreed to cut oil output by 1.8 million barrels per day (bpd) or around 2 percent of global production throughout 2017 and 2018, in a move that has helped oil prices to double from their 2016 lows to around $70 a barrel.For Russia and Saudi Arabia the deal has also paved the way for dialogue on many other fronts despite the two countries effectively fighting a proxy war in Syria.Dmitriev's $10 billion fund has joint projects with Saudi Arabia, including a $1 billion technology fund.
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