Russia
Putin’s power play: Russia-Saudi oil deal a launchpad for bigger Russian influence in Mideast
Saudi Arabia’s oil production agreement with Russia was opportunistic at first, but it is now the foundation for a broader relationship. The full article, linked below goes into greater detail. The quote of the entire article is: “Right now Russia and Saudi Arabia’s relationship is becoming thicker than oil,” Croft said. As for the Saudis, “I think they see themselves as trying to show the Russians they have a better friend in the Middle East (than Iran).” Here’s a quick summary: The agreement between Saudi Arabia and Russia to cut back on oil production has boosted oil prices and is now the foundation for a broader relationship. The partnership with OPEC, led by Saudi Arabia, allows Russia to strengthen its hand in the Middle East at the same time the U.S. role has been diminished. S...
Russia Is Taking Over Syria’s Oil And Gas | OilPrice.com
If finally happened… In accordance with an energy cooperation framework agreement signed in late January, Russia will have exclusive rights to produce oil and gas in Syria. The agreement goes significantly beyond that, stipulating the modalities of the rehabilitation of damaged rigs and infrastructure, energy advisory support, and training a new generation of Syrian oilmen. Still, the main international aspect and the key piece of this move is the final and unconditional consolidation of Russian interests in the Middle East. Before the onset of the blood-drenched Civil War, Syrian oil production wavered around 380,000 barrels per day. It has declined for some time then, since its all-time peak production rate of 677,000 barrels per day in 2002… Read Full Article Here: https://oilprice.com/...