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Gas prices, explained

Oct 18, 2019

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Will the Saudi-Russian oil alliance hold as production cuts are mulled?

Scott Tong Nov 12, 2018
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Russian President Vladimir Putin shakes hands with Saudi Crown Prince Mohammed bin Salman during their meeting at the Kremlin in Moscow on June 14, 2018. 
Yuri KADOBNOV / AFP

The price of oil is at its lowest in almost a year. Now officials from Saudi Arabia are suggesting they might cut supply to arrest the falling price. President Donald Trump on Monday said he hopes Saudi Arabia and OPEC don’t do that. It’s all a bit of a test for Saudi Arabia and its new oil partner, Russia. The two petrostates have been cooperating this year to pump more oil. Whether they’ll agree to cut production now and give up revenue is another question.

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