King Salman may also seek assurances from Moscow that Iran will not have a permanent role in Syria.
The King, who arrives in Moscow on October 5, will have several investment deals on his plate, including on a liquefied natural gas project and petrochemical plants, and could also sign plans for a $1-billion fund to invest in energy projects.
The Kremlin said ahead of the visit that Salman and Putin would also discuss "the situation in the Middle East and North Africa, especially focusing on conflict situations in the region". The Russian leader praised Trump as someone with a strong character but said the relationship between Moscow and Washington has been complicated by a domestic political fight in America.
"Bullish comments from the Russian and Saudi Energy ministers are helping arrest the recent decline in oil prices", said Stephen Brennock, analyst at London brokerage PVM Oil Associates.More news: Crude Oil Tightropes USD50 Again
The two countries have already struck a deal on weapons sales and leaders discussed the oil market and Syrian crisis.
Saudi Arabia's energy minister said that Russian Federation has helped to breathe new life into OPEC and that shale can be a major contributor to the market in years to come.
The president stressed that Russian Federation is perfectly aware of the concerns of regional countries, including Iran, Turkey and Saudi Arabia.
Putin said on Wednesday it was possible to extend an OPEC deal to cap oil output "at least until the end of 2018".More news: Irving Oil Says Decision to Cancel Energy East Is a Lost Opportunity
Saudi King Salman bin Abdulaziz is on a four-day state visit to Russian Federation along with his entourage of 1,500 people, a golden escalator and his own carpets, a person familiar with the matter said.
During the visit King Salaman said he was looking forward to building a strong relationship with Russian Federation "in the interests of peace, security and development of the world economy".
Russian President Vladimir Putin distanced himself from President Donald Trump on Wednesday, dismissing the US president as a man he's met once but has no personal relationship with. In 2015 the countries' sovereign wealth funds agreed to $10 billion in investments.
Riyadh and Moscow reached an inevitable result in their future relations that they would rather focus more on common interests available in promising fields rather than disagreeing on issues that affected them negatively.More news: Air France Flight Diverted After Engine Explodes
According to Russia's foreign ministry, acting US mission head Anthony Godfrey was handed a "note of protest over the intention of the American authorities to conduct a search". Salman said he last visited Russian Federation in 2006, before becoming king.