Saudi Arabia’s Crown Prince Mohammed bin Salman and Russia’s President Vladimir Putin at the G20 summit in 2018. Photo: AP
Donald Gasper
Opinion

Opinion

Donald Gasper

As oil industry nears collapse, Saudi Arabia may have no option but to blink first in its price war with Russia

  • Given coronavirus-weakened demand, and with Russia in a better financial position to ride out the price rout, a heavily indebted Saudi Arabia simply cannot afford to sell at such low prices for much longer, unless it wishes to take the oil industry down with it
Saudi Arabia’s Crown Prince Mohammed bin Salman and Russia’s President Vladimir Putin at the G20 summit in 2018. Photo: AP
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