Saudi Arabia says stop and piles misery on Putin
Saudi Arabia might jeopardize Russia's war efforts if the Middle Eastern nation decides to manipulate global oil prices.
Riyadh has hinted that it could flood the OPEC market with thousands of barrels of Saudi oil if the organization refuses to cut production. Crown Prince Mohammed bin Salman is reportedly considering lowering the price of oil to 49 dollars per barrel—a move that could have serious repercussions for the Russian economy, which heavily relies on its gas and oil exports.
If Saudi Arabia leverages this strategy, Moscow may struggle to finance its war in the long term, as the conflict approaches its third year. According to figures from Kyiv, Russia has lost over 720,000 troops in nearly two years of fighting.
Speaking to Business Insider, Simon Henderson, director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute said: "Saudi Arabia is fed up. Leadership of OPEC is a multifaceted responsibility. It can work well, but it's also like herding cats — pretty damn impossible, at least some of the time."
(QG - Source: The Daily Express / The Washington Institute / Picture: © Unsplash)
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- https://www.msn.com/en-us/money/markets/saudi-arabia-says-stop-and-piles-misery-on-putin/ar-AA1uMwvJ?ocid=00000000
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