The Evolution and Prospects of Saudi Arabia – Russia Oil Relations: A Saudi Perspective
One of the major features of the latest oil price cycle has been the strengthened relationship and close coordination between two of the world’s largest oil producers: Russia and Saudi Arabia. This presentation analyses the evolution of Russia-Saudi Arabia oil relations and the prospects of this relationship from a Saudi perspective, by answering the following set of questions:
- What is this relationship all about? Does it extend beyond oil related areas?
- Has the relationship contributed to shaping market outcomes?
- Is the relationship between the two producers symmetric?
- How did the relationship evolve?
- Why did this relationship emerge over this cycle? What were the driving forces?
- Has the relationship been successful?
- Would this relationship continue or will it crack under market pressures?
- Will this renewed relationship reduce the importance of OPEC for Saudi Arabia?