Although Saudi Arabia's recent decision to hike oil production coincided with the broader COVID-19 crisis, it reflects a broader and more fundamental strategic shift led by Crown Prince Mohammed bin Salman. With a global clean-energy transition inevitable, MBS is desperate to cash out while the Kingdom still can.
This was preceded by Saudi Arabia’s Crown Prince Mohammed bin Salman greenlighting Aramco’s IPO, in line with his plan to shake up the kingdom’s economy and diversify away from oil. Russia’s Federal Service for State Statistics (Rosstat), meanwhile, reported that the country’s total oil production cost in the second quarter of 2025 ...
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The Great Oil War of 2020 Has Begun. Can Russia Win? Russia enters this oil price war with two overarching objectives: drive U.S. producers out of business, and expose Riyadh to the limits of ...
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Saudi Arabia and Russia must have anticipated an oil price crash when they broke up their three-year-long bromance to push up oil prices. Two weeks later and nearly 4 million bpd of total promised ...
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At last week’s meeting, Saudi Arabia, the cartel’s leader, suggested the participants collectively cut their oil production by about 1 million barrels per day, with Russia making the most ...
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At the meeting, OPEC kingpin Saudi Arabia led a renewed push to reduce crude output to offset the impact of coronavirus. Cutting production will help arrest the plummeting prices. At the meeting, Saudi Arabia and Iran said they needed non-member allies to take 5,00,000 barrels of cut on themselves. But, Russia, the world's second biggest ...
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Abu Dhabi's decision to increase production comes after Saudi Arabia took steps to essentially flood the market to dominate a greater share, after major oil producer Russia refused to go along ...
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When Saudi Arabia and Russia announced a new policy to revive oil production last week, one thing was missing: most of the other partners in their grand coalition.
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London — Oil prices fell on Wednesday, giving up earlier gains, pressured by Saudi Arabia’s plans to boost oil production capacity for the first time in more than a decade and weakened demand ...
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2020-03-19· F or three years, Russia and Saudi Arabia had a deal. Together, they used their collective market power to put a floor under oil prices by limiting their production. Then, about two weeks ago, it
Get Price2020-04-05· (Bloomberg) -- Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on
Get Price2020-03-10· It was the breakdown of talks with Russia at the weekend that prompted Saudi Arabia to turn on the taps and push down the price. The talks had been expected to agree production
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2020-03-09· Saudi Arabia then decided to cut the price at which it will sell oil to Asia and other markets, in a bid to increase its own sales and likely to punish Russia as well. News also came that Saudi
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2020-03-10· Russia stepped up its price war with Saudi Arabia by warning it can raise oil production, while also saying further cooperation with OPEC is possible. After the collapse of OPEC+ talks last week
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2 天前· (Bloomberg) -- Saudi Arabia, Russia and other oil large producers are racing to negotiate a deal to stem the historic price rout, as diplomats pressed to get the U.S. to join the coalition.“President Putin and the Russian side in general are keen to engage in constructive negotiations, which is the only
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2020-03-13· Top oil exporter Saudi Arabia had said on Wednesday it would launch a programme to boost production capacity for the first time in more than a decade, signalling to Russia
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2020-03-11· Saudi Arabia has some of the lowest production costs in the world, meaning Aramco could withstand low prices far better than other big oil companies. However, the Saudi economy relies more
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(Bloomberg) -- Saudi Arabia, Russia and other large oil producers are negotiating for a deal to stem the historic price rout, even as leaders trade barbs in public. “President Putin and the
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2020-03-09· Russia and OPEC failed to agree on a plan to cut oil production in 2020, leading to the biggest one-day plunge in oil prices in 29 years and a potential price war.
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2020-03-19· Saudi Arabia and Russia have been fighting over oil market share after their three-year agreement to hold back production collapsed this month. Their pumping of crude oil flat out during a
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2020-03-27· MOSCOW/DUBAI/LONDON: Saudi Arabia said on Friday (Mar 27) it was not in talks with Russia to balance oil markets despite rising pressure from Washington to
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2020-04-03· After the president’s social-media intervention on Thursday, oil traders are frantically assessing whether Saudi Arabia, Russia and possibly even the U.S. — the world’s three biggest
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2020-03-17· Oil markets have been rocked by two simultaneous events. The novel coronavirus has knocked out millions of barrels worth of demand for oil, and a supply war between Saudi Arabia and Russia
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2020-04-04· At the same time Russia and Saudi Arabia could not agree on cuts to oil production, flooding markets with oil and further depressing prices. In
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2020-04-06· Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States
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2020-04-06· Saudi Arabia and Russia are close to a deal on oil output cuts to reduce a global glut, a top Russian oil negotiator said on Monday, but details such as how to share out production curbs remained unclear ahead of talks planned for later this week. A supply deal between OPEC, Russia
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2020-04-01· The oil industry is heading for its worst quarter ever as OPEC countries such as Saudi Arabia, the UAE and Iraq are boosting production while global storage facilities are filling up at an
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2020-03-14· Russia and Saudi Arabia, two of the world’s biggest oil producers, are each making a bet that they are better placed than the other to bear the pain of the oil price war that they set off over
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2020-03-06· (Bloomberg) -- OPEC+ talks were on the brink of failure as Russia resisted Saudi Arabia’s push for deeper production cuts. Oil prices slumped. Russia was refusing to make further supply
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The U.S. is considering imposing new sanctions on Russia in an effort to end its oil war with Saudi Arabia, which has sent crude prices spiraling to historic lows. According to a report published
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2020-04-04· Also on rt Saudi Arabia denies trying to kill US shale, shifts blame for oil supply glut on Russia “I think they’re trying to put pressure, especially on Russia, so they could come to agree with what they were trying to push over during the last OPEC meeting,” Roberto d’Ambrosio, the CEO of Axiory Global, said in an interview to RT.
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Saudi Arabia and Russia have gone head-to-head in an all-out oil war, as Russia rejected a recommendation from the Organization of the Petroleum Exporting
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2020-02-22· Saudi Arabia and Russia have so far failed to reach an agreement to cut oil production even with the COVID-19 epidemic in China expected to
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Saudi Arabia and Russia — once unlikely allies — are in a fresh battle for market share. “This is the nuclear version of a price war, when demand destruction is already beyond parallel, or
Get Price2020-03-31· The world is awash with oil due to a bruising battle for market share between Russia and Saudi Arabia after they failed to agree on deeper production cuts to support oil prices a fortnight ago.
Get Price2020-03-16· Oil price wars rarely achieve their objectives. Saudi Arabia and Russia racing to out-pump each other is unlikely to be any different. Instead of declaring a victory in seizing market share back from their common rivals in the form of US shale, the main protagonists in Moscow and Riyadh are more likely to cause long-lasting damage to petrodollar economies already under pressure from demand
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Saudis Renew Push for Output Cuts as Coronavirus Weakens Oil Business Outbreak is fueling Saudi Arabia’s push for supply cuts, hurting the oil industry’s profits and leading to project delays
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2020-03-09· Amongst oil market traders and watchers, a theory has been spreading over the last few days that Russia (and maybe Saudi Arabia) acted since Friday to intentionally send the price of oil
Get Price2020-04-02· The global oil market is sick. It has been dragged down by the effects of COVID-19 and Saudi Arabia’s unilateral decision to juice oil production after Russia refused further output cuts. The
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