28.10.2022 - 16:24 [ Middle East Eye ]

Opec+ oil cut: The birth pangs of a new world order

Riyadh is apparently set on another course. It intends to join Brics and is increasing its cooperation with China, including through its unprecedented consideration of trading oil for yuan instead of dollars. The UAE is also making moves, with Abu Dhabi Crown Prince Mohammed bin Zayed recently visiting Moscow, and his energy minister saying Russia is irreplaceable in the oil market.