Related Articles
Forward article link
Share PDF with colleagues

A Saudi-Russia deal to cut?

Both countries want higher oil prices. But a troubled history and near-term market dynamics suggest the time is not yet ripe

Rumours of a deal between Russia and Saudi Arabia have given some recent strength to oil markets. From lows of around $27 a barrel in late January, Brent was trading above $35/b on 1 February.It’s a neat idea, one that sees Saudi Arabia’s marketing policy in the past eighteen months as tactical, not strategic. That is, the kingdom’s willingness to keep the taps open has been a way of bringing rival producers into line – forcing cuts upon them – as opposed to the broader, much-cited strategic goal of forcing them out of business so as to hoover up market share. Saudi Arabia has given the market a good sweating, to borrow Rockefeller’s term. Now it’s time to get around the table again and resc

Also in this section
Opec and IEA bristle at Trump’s trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring
China bets on a yuan-oil bonanza
13 March 2018
The country's long-delayed crude oil futures contract promises much, but doubts persist