Saudi Arabia's Oil Production Cut Strategy Under Scrutiny

The alliance between Russia and Saudi Arabia, which has been focused on propping up oil prices and maximizing export revenue, appears to be straining due to Russia's war in Ukraine. While Saudi Arabia has reduced its oil exports to prop up falling prices, Russia has not made any new commitments to reduce its exports. The Saudi-Russian oil alliance has been generally profitable to both sides, but Russia's pressing needs and weak global demand for oil have helped drive prices lower, which has helped bring down energy prices around the world. Despite emerging tensions, the alliance is expected to continue as both countries still need each other.