Oil relationships are as unstable and volatile as romantic ones. Following a deadlocked OPEC summit in February, Moscow and Riyadh announced they would ramp up production, sending already low prices tumbling. Since both countries’ budgets are almost entirely dependent on energy exports, this suggests they have decided geopolitical interests trump purely economic ones.
Saudi Arabia will host a World Economic Forum (WEF) “special meeting” on the Middle East in the Fourth Industrial Revolution in April, WEF President Borge Brende announced in Davos.
Upon royal orders, the process of structural reforms continue in the Kingdom, which ends another year of a long path towards promoting economic and social transformation.
Salman Aldosary is the former editor-in-chief of Asharq Al-Awsat newspaper.
In the last decade of the shah’s rule in Iran, the Gulf’s unrest had reached its end. When protests heightened in most cities, happiness was apparent on the face of the Gulf. Khomeini was victorious in his return, and after weeks, he was able to rule his country.