Saudi Arabia And Russia Just Dropped A Bombshell WARNING, Millitary Ties Takes Shape

Saudi Arabia And Russia Just Dropped A Bombshell WARNING, Millitary Ties Takes Shape #oil #gas #market Russia and Saudi Arabia are rallying other OPEC producers to get on board with production cuts. This push comes after a meeting between Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman in Riyadh, where they emphasized the critical importance of all nations adhering to the OPEC agreement. The leaders highlighted that this unity is not only essential for the interests of producers and consumers but also crucial for supporting global economic growth. If You Like This Video: Like, Share, Comment And Subscribe. This Means A Lot To Us! Thanks For Watching Our Video: Saudi Arabia And Russia Just Dropped A Bombshell WARNING, Millitary Ties Takes Shape In a joint statement, the Russian version emphasizes “joining,“ while the English version uses the term “adhere“ to the OPEC agreement. This sentiment is reiterated in a statement from the Saudi Press Agency after Putin’s visit, emphasizing the significance of all nations sticking to the agreement for the benefit of both producers and consumers. The leaders expressed appreciation for the cooperation in the energy sector and the successful efforts of OPEC countries in stabilizing global oil markets. They called for continued collaboration, with all nations maintaining their commitment to the OPEC agreement to foster global economic growth. Putin’s rare visit to Saudi Arabia, including a trip to another major Gulf oil producer, the United Arab Emirates, followed OPEC ’s announcement of less-than-expected production cuts for the next year. In response, Saudi Arabia and Russia expressed readiness to take additional steps if necessary, with Russia’s Deputy Prime Minister, Alexander Novak, indicating a willingness to avoid market issues in early 2024. Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, hinted at the possibility of extending production cuts beyond March 2024 if market conditions require it. Expressing frustration with commentators who may not fully grasp the details of the production agreement, the leaders underscored their commitment to ensuring stability in global oil markets. Putin’s recent visit to Riyadh and Abu Dhabi, accompanied by four Russian fighter jets, raised questions about the purpose of this rare overseas trip. While the Kremlin reported discussions on various hot topics such as conflicts in Gaza, Ukraine, and Yemen, as well as the Iranian nuclear program, the visit also signaled diplomatic efforts to strengthen ties with Middle Eastern nations. Shifting gears to the COP28 meeting, where countries gather to discuss environmental issues, Saudi Arabia emerges as a key player resisting talks of phasing out fossil fuels. The New York Times reports that Saudi Arabia is a major obstacle to the agreement, opposing any mention of fossil fuels and hindering efforts to triple global renewable energy by 2030. Saudi negotiators are employing strategic moves, including slowing down provisions meant to help vulnerable countries adapt to climate change, and even staging a walkout in a side meeting. The Financial Times reports tensions between Saudi Arabia and the United Arab Emirates, the host of COP28, with Saudi Arabia allegedly dissatisfied with the UAE’s handling of the summit. OPEC’s top official, Haitham Al Ghais, sent a letter to its member countries and OPEC allies, urging them to reject deals targeting fossil fuels at COP28. Al Ghais emphasized OPEC’s focus on reducing emissions and the need for significant investments in all types of energy, including fossil fuels. However, this stance faced criticism from key players, with the European Union’s climate chief and U.S. lawmakers expressing concerns. The reactions from OPEC member countries reflect the economic significance of oil, with 80% of the world’s known oil reserves owned by these nations, mainly in the Middle East. For these countries, the discussions at COP28 about reducing oil and gas usage pose a direct challenge to their economic survival. Ministers from Iraq, Kuwait, Algeria, Libya, and Oman attended an energy meeting, expressing the critical importance of oil revenues to their economies. Notably absent was the UAE Energy Minister, reflecting the diverse opinions within OPEC regarding the energy transition, with some advocating for a practical shift while continuing to use fossil fuels. More Details In The Video