Wednesday 17 February 2016

Harsh economic reality drives Saudi-Russia accord - FT.com

Harsh economic reality drives Saudi-Russia accord - FT.com:

"Saudi Arabia and Russia are hardly the most obvious allies. The world’s two largest oil exporters have been locked in an increasingly fierce battle for market share. They are on opposite sides of the bloody conflict raging in Syria. Previous attempts to co-operate on oil output have ended in bickering and distrust.
But the two states have been forced together by harsh economic reality, in the shape of collapsing oil price, which led to Tuesday’s tentative agreement to freeze oil production, also backed by Qatar and Venezuela."



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