Part 4/11:
OPEC, particularly its extended format OPEC+, which includes major producers such as Saudi Arabia and Russia, has a decisive influence on global oil supply and prices. Despite the current price of oil being detrimental to Russian revenue streams, the dynamics between OPEC members complicate the situation. Historically, Russia and Saudi Arabia have collaborated within OPEC+ to stabilize the market, leading to concerns that Saudi Arabia might hesitate to take action that would adversely impact its ally, Russia.