An oil rig in the North Sea
Saudi Arabia’s bear hug
The kingdom is strengthening its ties with Russia as it nervously watches US political developments
Russian president Vladimir Putin was afforded the sort of red-carpet welcome in Riyadh on his October visit to Saudi Arabia that was once reserved for US heads of state. This was deliberate. Both sides wanted the occasion to symbolise the start of a relationship that far exceeds cooperation in the management of global oil prices. Putin arrived in the kingdom at a moment when the current US administration’s strategy—if the term can even be justified in this case—in the Middle East seemed more inexplicable than ever, as President Trump gave mixed messages to Turkey about the fate of Syrian Kurds. With the US having disappointed the Saudi leadership in failing to respond to the Abqaiq attacks
Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
