OPEC+ cut highlights Saudi shift away from the US

Yesterday’s decision by OPEC+ to cut oil production quotas by 2mn bpd adds to signs that, in a world economy that is fracturing, Saudi Arabia is tilting away from the US and leaning towards a China-led camp. That would threaten to undermine the push by Crown Prince Mohammed bin Salman to attract Western investment and technologies to diversify the Kingdom away from oil.

In view of the wider interest, we are sending this MENA Economics Update to clients of our Energy service.

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