An oil rig in the North Sea
Saudi Arabia’s bear hug
The kingdom is strengthening its ties with Russia as it nervously watches US political developments
Russian president Vladimir Putin was afforded the sort of red-carpet welcome in Riyadh on his October visit to Saudi Arabia that was once reserved for US heads of state. This was deliberate. Both sides wanted the occasion to symbolise the start of a relationship that far exceeds cooperation in the management of global oil prices. Putin arrived in the kingdom at a moment when the current US administration’s strategy—if the term can even be justified in this case—in the Middle East seemed more inexplicable than ever, as President Trump gave mixed messages to Turkey about the fate of Syrian Kurds. With the US having disappointed the Saudi leadership in failing to respond to the Abqaiq attacks
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
