No compatible source was found for this media. Saudi Arabia’s top oil official once said the Organization of Petroleum Exporting Countries should have little faith in any partnership with Russia. The past week shows how much things have changed. On Wednesday, OPEC member Qatar and commodity trader Glencore Plc committed to buy a 19.5 percent stake in Russian oil titan Rosneft PJSC for 10.2 billion euros ($11 billion). That follows the Nov. 30 announcement of the organization’s first joint production cut with Russia in more than a decade, an agreement brokered personally by President Vladimir Putin and Saudi Deputy Crown Prince Mohammed bin Salman. Russia already has long-standing energy ties to OPEC members Iran and Venezuela. These two deals reflect a new trend of co-operation with the group’s core Gulf Arab members, according to consultant Eurasia Group. “There’s an intentional effort by Middle East producers like Saudi Arabia, Qatar […]