Putin's power play: Saudi-Russia oil deal leads to bigger Russia role in Middle East

ArticleEnergyMarch 12, 2018 - 7:45:48 AM

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.

Saudi Arabia's oil production agreement with Russia was opportunistic at first, but it is now the foundation for a broader relationship that has the potential to reduce already waning U.S. influence in the Middle East.

Experts note that Russia has relationships with many powers in the Middle East and is the only one that can deal with everyone, including Israel, Iran, Syria and even Hamas and Hezbollah. The United States, on the other hand, is at odds with Syria and has increasingly chilly relations with Iran...

Source:cnbc.com

On the same subject