Kamala Harris

Joe Biden

Dean Phillips

Marianne Williamson

Donald Trump

Vivek Ramaswamy

Nikki Haley

Ron DeSantis

Cornel West

Robert F. Kennedy

2024 United States Presidential Election

Saudi Arabia's plans to ramp up oil production could hit price levels critical for fueling Russia's invasion of Ukraine.

tag:reuters.com,2024:binary_RC273AA9IUII-BASEIMAGE

Fortune

New York

United States

Saudi Arabia's big plan for oil could hammer Russia's war machine, economists warn

Vladimir Putin could be hit with an economic crisis that could also hurt his forces in Ukraine as oil prices continue to slump.

Media Bias/Fact Check

Daily Express

Reach plc

United Kingdom

The 'fed up' country that could dismantle Vladimir Putin's war plan in Ukraine

credit should read JACQUES WITT/AFP via Getty ImagesSaudi Arabia could flood the market with oil to regain control of prices.This would create a difficult situation for Russia, which is reliant on higher crude prices. One analyst suggests the market could see a repeat of the 2020 oil price war. Russia's wartime economy could face a tougher time securing needed oil revenue if Saudi Arabia tanks global crude prices.The kingdom has reportedly signa…

Ad Fontes Media

All Sides

Business Insider

How Saudi Arabia could create a crisis for Russia's economy

Chatchaval Jiaravanon

The leader of the Organization of the Petroleum Exporting Countries wants to "punish" member states that overproduce oil, thereby lowering its price in the long term. For example, Russia is in danger of losing the income it needs to finance the war.

Lídr Organizace zemí vyvážejících ropu chce „potrestat“ členské státy, které nadprodukují ropu, čímž dlouhodobě klesá její cena. Například Rusku tak hrozí ztráta příjmů, které potřebuje na financování války.

Saúdové tlačí a Rusku hrozí ztráta příjmů z ropy

seznamzpravy.cz

The Saudis are pushing and Russia is at risk of losing oil revenue

Express US

Russia has invited Saudi Crown Prince Mohammed bin Salman to attend the summit, foreign minister Sergei Lavrov said last month The post Saudi Crown Prince not attending Russia’s BRICS summit appeared first on Gulf Business.

Gulf Business

Saudi Crown Prince not attending Russia's BRICS summit

The Wall Street Journal reported earlier that Riyadh is frustrated by the failure of other producing countries to coordinate supply cuts to raise oil prices to about $100 a barrel, compared to the current price of $70.
Oil traders say Saudi Arabia is now preparing to export more oil to capture market share and boost profits, even as prices fall.
This strategy will lead to the collapse of oil prices, which is "bad news" for Russian President Vlad…

NEWSRAEL

"Bad news" for Putin from Saudi Arabia

Russia’s war machine in Ukraine has been funded for two and a half years by its vast oil reserves, even in the face of rising sanctions that have cut it off from key Western customers. However, a bold move by Saudi Arabia could jeopardize that strategy.  
Saudi Arabia is reportedly planning to abandon its unofficial price target of $100 per barrel for crude oil in a bid to grab market share by upping supply, according to a Financial Times report…

WDC TV News

Saudi Arabia's big plan for oil could hammer Russia's war machine

Saudi Arabia’s decision to increase oil supply at a time of falling global demand could jeopardise the Russian war effort. With Russia already selling its oil at discounted rates and with higher production costs, a low-price environment in oil markets may impact its ability to finance its aggression in Ukraine. Russia and Saudi Arabia have previously clashed in oil markets. For a brief one-month period at the outset of the Covid19 pandemic, Russ…

Saudi Arabia's big plan for oil could hammer Russia's war machine, economists warn

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics