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Marketplace

Russia plays oil diplomacy card in Middle East

Scott Tong May 10, 2019
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The Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria in 2016. Joe Klamar/AFP/Getty Images

Russia plays oil diplomacy card in Middle East

Scott Tong May 10, 2019
The Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria in 2016. Joe Klamar/AFP/Getty Images
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As the United States has pulled back from the Middle East — politically and economically — a new powerbroker is trying to move in: Russia. Moscow has leveraged its oil market power to partner with the Organization of the Petroleum Exporting Countries (OPEC) and the oil cartel’s most powerful member, Saudi Arabia.

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