Forbes: Russia to defeat Saudi Arabia in oil war

The American magazine Forbes predicts the victory of the Russian Federation in the oil war against Saudi Arabia. The relevant material is published today, March 11. Recall that the collapse of the OPEC agreement, which since 2017 limited the level of production of oil exporting countries and thus maintained an acceptable level of prices, led to the collapse of oil quotations the strongest since 1991. At the same time, the collapse of the agreement was due to the fact that Moscow did not want to further reduce the production level, and the Saudis proposed to reduce it by 1.5 million barrels per day in aggregate for all participants in the OPEC agreement. At the same time, Russia was supposed to reduce the production level by 300,000 barrels per day. As a result, the collapse of the agreement and the fall in oil prices, as well as the statements of the exporting countries about their intention to dramatically increase production, allowed experts to talk about the beginning of the oil war. According to the American magazine Forbes, Russia has a much better chance of winning this war. By winning, the magazine's editorial board seems to understand the country's ability not to ruin at low oil prices, as well as to maintain its own or push out a large share of the world oil market. Forbes 'first argument is the footage. The magazine believes that Russian President Vladimir Putin, as well as Russian Energy Minister Alexander Nowak, are experienced managers who, if they have taken such extreme measures, clearly know what they are doing, and they clearly have some plan. But Forbes does not consider the Saudis good managers and strategists. Another trump chip in Russia's hands is the recent IPO of Saudi oil company Saudi Aramco. When this company took its shares to the exchange, one in five subjects of the Saudi king bought its shares, some even took credit for it. But now, on falling oil prices, the value of Saudi Aramco shares is also falling. Of course, investors will survive some fall, but if it becomes too substantial, the Saudis will have to do something to stabilize this market.