Certified international expert on Gulf affairs
Prof. Jasim Younis Al-Hariri
jasimunis@gmail.com
The American academic, Charles Lane, seized the Saudi-Russian conflict in oil prices to recite the effects of this on American interests in an article in him in the newspaper (Washington Post), where he gave advice to the American administration, including preventing Saudi Arabia or Russia from defining the oil strategy. Lin pointed out that this is not the first time that Saudi Arabia and Russia, the largest oil exporters, have tried to obtain an economic and geopolitical agreement by manipulating what the state-owned oil wells produce, nor is it the first time that the United States appears as an interested third party. In this drama)) but he turns around in this matter to indicate that What is ((different this time is the presence of a winner, or a loser in the United States based on the results of the Saudi-Russian conflict)), and the American academic fears that the wheel of time will be restored again, and Washington will be crippled by what it suffered previously in the decline in oil prices as it was in the past By saying ((that the tripartite relationship between the United States, Saudi Arabia, and Russia has been shaping political geography and the economy for nearly half a century. In 1973, the Organization of producing and oil-exporting countries (OPEC) led by Saudi Arabia crippled the US economy by stopping oil exports in response to US support for the Israel war) On the Arab countries)) He went on to say ((as the Iranian revolution imposed in 1979 and what followed it from the war between Iraq and Iran suddenly reduced the supply and raised the prices that the Soviet Union exploited at that time by increasing its production and exports)), and stands here to show the point of separation in oil prices at that time by saying ((The European countries led by the conservative ones In particular, a series of countermeasures that limited demand and control prices. In the late 1980s, the Kingdom of Saudi Arabia pumped oil in generous quantities. The decision was linked to differences within OPEC, which rejoiced the United States of America because increased production led to punishment of the Soviet Union. The one who was occupying Muslim Afghanistan and the losses the Soviet Union hurried to accelerate his downfall), and in his reading of the current situation and the effects of the Russian-Saudi conflict on America as the three sought to gain independence in energy through ((unleash local producers during the era of the President Barack Obama allowed the export of crude oil once since the nineties. Putin also improved Russian industrial quality, and used oil revenues to fill a reserve fund worth $ 570 billion, which constitutes about a third of gross domestic product. During the era of Bin Salman, the Saudis also raised a sovereign wealth fund and reduced the percentage of Debt to GDP is only 25% (), (Goldman Sachs), which is considered the oldest financial services and investment institution in the United States of America and the world, warned of the Russian-Saudi conflict in oil prices by saying ((that the continuation of the situation is what it means The stores’ refineries, pipelines, and oil tankers have reached their maximum capacity, which has not happened since 1998, which means that the oil produced will not find capacity or destination for it)) And statements attributed to Russian President ((Vladimir)) Putin have angered the Kingdom of Saudi Arabia and described it As a counterfeiting of facts, Moscow wants to cut a power The crude disgrace to global markets, which does not reflect negatively on the shale oil sector in the United States of America while Saudi Arabia seeks to respond by raising the rates of oil production in the Kingdom, and Saudi Foreign Minister Faisal bin Farhan assured ((that he was acquainted with a statement attributed to the Russian President in one of the media, and he saw that Reasons for the drop in oil prices, the kingdom withdrew from the ((OPEC +)) deal and that Riyadh plans to get rid of the shale oil producers) and the Saudi minister affirmed that what was mentioned is completely false and totally untrue to the truth, noting that Russia is It came out of the agreement, while the kingdom and 22 other countries were trying to Russia by making further cuts and extending the agreement, but Russia did not agree to that.) The Saudi minister added that his country seeks to achieve a market balance, which is in the interests of shale oil producers, a source from Russia that reflects its desire to keep prices low to affect shale oil. ).
At the same pace, the Saudi Minister of Energy ((Abdulaziz bin Salman)) denied what was stated in the statements of the Russian Energy Minister ((Alexander Novak)) that the Kingdom refused to extend ((OPEC Agreement +)), and withdrew from it, and the Saudi minister said ((that the Kingdom made Great efforts with OPEC + countries to reduce the presence of a surplus in the oil market resulting from the decline in the growth of the global economy, except that this proposal, which was assumed by the Kingdom and agreed to by 22 countries, has not been accepted by the Russian side. () The Saudi minister in charge of managing the Saudi energy file stated ((that The Russian Energy Minister is the initiator of the media outlet and declaring that states are in the process of discharging their obligations as of For the first of April 2020, which led to the increase of countries in their production to meet the decrease in prices to compensate for the shortfall in revenues)) and the persistence of the risks of the Corona epidemic to spread, and exacerbation, it contributed in one way or another to the impact of oil prices and their deterioration as a result of accumulation of production in stores, transport lines, and an increase The show, and glory to the transformation, thanked Corona for this dramatic shift in the Saudi-Russian conflict over oil prices.
