The large unexpected production cut yet another sign that Saudi Arabia is moving closer to Russia. Both Saudi Arabia and Russia need Brent crude prices well above $80 per barrel.
as a ‘dialogue partner’, Saudi Arabia has now decisively shifted into the China-Russia sphere of influence.
What changed between February and April was the Saudi Arabia-Iran resumption of relationship deal, brokered by China. Although at the time of the announcement of the deal, White House national security spokesperson, John Kirby, tersely observed that the deal done on 10 March between Iran and Saudi Arabia to re-establish relations “is not about China”, it absolutely was about China. What it absolutely was not about was the U.S.
Given these economic and political necessities in the U.S. and its allies, former President, Donald Trump, rigorously enforced the price range. When Saudi Arabia was pushing oil prices up over the US$80 pb of Brent level in the second half of 2018, President Trump sent a clear warning to Riyadh to stop doing this. In a speech before the United Nations General Assembly, Trump said: “OPEC and OPEC nations are, as usual, ripping off the rest of the world, and I don’t like it. Nobody should like it.
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