Russia And Saudi Arabia Are Becoming Unlikely Allies

26 Sep 2017   Russia, Saudi Arabia

Five years ago, the idea of OPEC and Russia working together on any oil and gas issue would have seemed absurd to any energy analyst worth his or her salt. But the unusual market circumstances of the past three years have made this unlikely scenario a reality. Now, Saudi Arabia, the de facto leader of the industry cartel, is venturing to deepen political ties with Russia directly, based on mutual interests over the Qatar blockade and rebalancing the supply side of the world’s oil markets. In a Saudi first , King Salman will visit Moscow next month, where he will announce the monarchy’s support for “de-escalation zones” in Syria—a stance Riyadh previously despised. The change in mindset is a direct reflection of Russia’s easing of criticisms against the Saudi-led coalition’s fight against Houthi rebels in Yemen. Saudi Arabia now plans to strike a deal with Moscow to extend the […]

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