According to a report by TASS

And thus, a new alliance was born. No other details given at this point, but it's not too surprising as Saudi Arabia and Russia have been working very closely indeed over the last few months.

This will give more credence that the OPEC+ agreement we're seeing now will be maintained and some other form of agreements will be put into place moving forward.

As mentioned many times though, all part of the bigger picture that is the market share battle with the US.