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Infographic: Clash of the titans: Russia and Saudi Arabia

1 year ago
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Fuel prices to increase by 7%-13% from February 1, 2023 – IES

Fuel prices to increase by 7%-13% from February 1, 2023 – IES

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Russia and Saudi Arabia are locked in a vicious oil price war only three years after striking an alliance with OPEC to manage the market.

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Oil prices have tumbled more than 30% since the collapse of their meeting in Vienna on March 6 and some industry veterans even fear crude could fall to below $20/b as their race for market share intensifies.

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