Day: June 5, 2023

Exclusive:- OPEC+ Puzzle Continues With Russian-Saudi Cooperation On Oil Market

Exclusive:- OPEC+ Puzzle Continues With Russian-Saudi Cooperation On Oil Market

Russia and Saudi Arabia united their dominance on the oil market in 2016 to become OPEC+. However, this is not the start of their collaboration. Additionally, they have clashed as competitors. In the end, only the price of oil aligns with their interests. Two ambitious princes met in February 2015 in Abu Dhabi at the Idex arms expo. One was Saudi Arabia's Minister of Defence and deputy crown prince Mohamed bin Salman. The other was Mohammed bin Zayed al-Nahyan, Abu-Dhabi's de facto ruler and the city's crown prince. The two, MBS and MBZ, talked about palace intrigue. MBS was jealous of Mohammed bin Nayef, his older cousin who served as interior minister and crown prince. Furthermore, after 9/11, bin Nayef was credited with destroying al-Qaida cells in Saudi Arabia as the country's counterterrorism czar. He, therefore, had positive working relationships with Americans. MBS wanted to surpass Bin Nayef but was unsure how to go. MBZ advised him to think more deeply. OPEC MBZ advised him to develop new relationships with China and Russia and to think more imaginatively about Saudi foreign policy. ...

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