Saudi Arabia is already in April implementing its plan, the “Gulf” of the world with cheap oil in an effort to end the confrontation as soon as possible.
In this regard, dozens of tankers are being sent to the shores of Saudi Arabia and will be loaded with raw materials. A map with the vessels marked on it has been published by the TankerTrackers portal. The image shows the ships moving to the shores of the kingdom from Asia and the Suez Canal. At the same time, it is possible that some of them will be chartered in April, when Riyadh promised to collapse oil prices in order to force Russia to make a deal under OPEC.
As News Front reported, the spread of the COVID-9 coronavirus infection resulted in a sharp drop in demand for oil, but the oil-exporting countries failed to agree on a reduction in production. This led to a sharp drop in oil prices.
Now Riyadh is desperately trying to put Russia at the negotiating table, as the longstanding confrontation between the Saudis cannot be pulled. Thus, the Bloomberg agency noted that the monarchs’ financial resources will run out before the demand for oil reaches its peak.
At the same time, Russia is much more ready for a long oil war, as oil and gas revenues in Russia account for only twenty percent of the country’s GDP, while Saudi Arabia is talking about 50 percent. Moreover, oil and gas revenues account for 40% of Russia’s budget and 70% of Saudi Arabia’s.