Russia and Saudi Arabia's oil partnership, vital for oil markets, is experiencing strain.
Etagfreeshop
By Sima
Image Source: Google
Factors contributing to the strain include diverging interests, geopolitical tensions, production conflicts, and the impact of the COVID-19
Etagfreeshop
By Sima
Image Source: Google
Diverging interests between Saudi Arabia and Russia, with the former seeking higher prices and the latter protecting market share
Etagfreeshop
By Sima
Image Source: Google
Geopolitical tensions due to Russia's alliances with Iran and Syria have complicated the collaboration.
Etagfreeshop
By Sima
Image Source: Google
Market share competition between the two major oil producers has caused conflicts over production levels and quotas
Etagfreeshop
By Sima
Image Source: Google
The COVID-19 pandemic has further strained the partnership as it led to reduced oil demand and price instability.
Etagfreeshop
By Sima
Image Source: Google
Shifting dynamics in the global oil market, with the rise of renewable energy, have added pressure to the partnership.
Etagfreeshop
By Sima
Image Source: Google
The strained oil partnership has implications for price volatility, geopolitical dynamics in the Middle East, global energy
Etagfreeshop
By Sima
Image Source: Google