8 Points Of Strained Russia-Saudi Arabia Oil Partnership

Russia and Saudi Arabia's oil partnership, vital for oil markets, is experiencing strain. Etagfreeshop By Sima Image Source: Google

[{"selector":"#anim-ba43123b-d239-4017-9740-04e4256a1738 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-0aa3e426-2f91-4aac-a5ba-08f21677c288","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] 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

[{"selector":"#anim-4861bcca-a2a5-48aa-811d-81dfa3610214 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-1dba34b6-f89a-496e-9559-df781f592f1a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] 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

[{"selector":"#anim-3b1d1025-ea8e-48ce-b172-d13d9ee9adc5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-a461de99-32f4-406c-bd86-3bf117163267","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Geopolitical tensions due to Russia's alliances with Iran and Syria have complicated the collaboration. Etagfreeshop By Sima Image Source: Google

[{"selector":"#anim-182271b6-0cf2-41a1-acce-6c3ce235bf77 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e67d9d6d-2c60-444c-a7c6-0c663befb458","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Market share competition between the two major oil producers has caused conflicts over production levels and quotas Etagfreeshop By Sima Image Source: Google

[{"selector":"#anim-4e2f8e3f-ef78-4d29-8906-126fb6d0ebf9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-89e6641c-3fdd-4fdf-a5e3-a82c05ffa007","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] 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

[{"selector":"#anim-ba3de9b0-5027-4f19-8c42-f860ae3858ef [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-47d9e116-8e81-4855-bb88-5350c41f0012","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] 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

[{"selector":"#anim-b7cb8d6c-ce2d-4fd5-80ef-81dfc3e796c0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-b35f074b-f423-4b7d-b461-0bfce8d47453","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The strained oil partnership has implications for price volatility, geopolitical dynamics in the Middle East, global energy Etagfreeshop By Sima Image Source: Google Learn more