Business Standard

Lower oil prices force Saudi Arabia to widen its circle of friends

The Saudis, led by Crown Prince Mohammed bin Salman, are seeking to link cuts in OPEC production over the past 2 years with cuts by Russia, another oil-exporting powerhouse, to buoy prices

crude oil
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Clifford Krauss | NYT

Saudi Arabia has long been the dominant force in oil, leaving the world at the mercy of its ambitions and its interests. Now the kingdom must refresh its strategy to reflect a weaker hand — and in many ways, a different game.

The changing nature of the energy industry — the oil production boom in American shale fields, the persistence of lower crude prices, and the rise of natural gas — has transformed the geopolitical equation.

While Saudi Arabia is still a major energy producer, it must compensate for its lost revenue. And the United States, China

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