Geo Politics
U.S. President Joe Biden reversed his own administration’s policy in a bid to please Saudi Arabia and its Middle Eastern allies. Just as Washington thought it had managed to salvage ties with Saudi Arabia and the global oil cartel controlled by it, Riyadh has given the United States a big shock. OPEC’s decision to cut daily output by 2 million barrels feeds directly into Russia’s strength. As global oil prices rally due to the production cuts, Moscow will be able to offer discounted oil to fuel-guzzling nations. Do you agree that OPEC+ decision will ensure oil prices escalate, and help Russia shore up revenues for its war machine? Watch to know more.
Credit FirstPost