Russia And Saudi Arabia Are Becoming Unlikely Allies
Monday, 25 September 2017 () 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…
Oct.05 -- Saudi Arabia's King Salman is due to meet Vladimir Putin for talks. It is the first ever visit by a Saudi monarch to Russia. A series of deals are expected during the four-day trip. Bloomberg's Riad Hamade reports on "Bloomberg Markets: Middle East."
Even before the OPEC/non-OPEC production cuts took effect in January 2017, Russia had already beaten Saudi Arabia to become China’s single largest oil supplier... OilPrice.com - MarketsAlso reported by •Reuters