“The view from Saudi Arabia, in particular, is that they no longer want to be the ones carrying the heaviest burden if other countries in the group are not showing sufficient commitment to doing their part,” Richard Bronze of London-based research firm Energy Aspects told the left-wing New York Times (NYT). “The key to knowing how far the Saudis will take what is starting to look like a price war is the nation’s tolerance for low oil prices over time,” ING Head of Commodities Strategy Warren Patterson predicted on Monday. Trump urged the Saudis to reduce energy prices by increasing production and Riyadh looked far more favorably upon his request than it did upon the desperate pleas of the hostile President Joe Biden, who fairly begged the Saudis to bring prices down after boasting that he would make them “pariahs” on the world stage during his 2020 campaign.
Author: John Hayward, John Hayward
Published at: 2025-05-05 21:08:21
Still want to read the full version? Full article
