... Saudi Arabia is also clearly vulnerable to new attacks, despite enormous military spending and assistance from the United States. The media has added fuel to the fire by
suggesting
that it will take Riyadh between several months and a year to bring oil production to its previous levels.
Consequently, while Saudi Arabia could previously afford to ignore the occasional missile and drone from Yemen and continue bombing the adversary using its own aviation, now, instead of a zero-sum game, it has an asymmetric conflict on its hands with very unpleasant consequences. However, there is a way out of this predicament. A week after the strike against ...
... the most, it is the historical enemy of Saudi Arabia, and both countries have waged proxy wars in each of Iraq, Lebanon and Yemen. It is the modern “Cold War” of the Middle-East. One of the reasons Saudi Arabia did not join the Astana initiative ... ... influence in Syria, but they rather fear an Iranian one. Plus, Russians and Saudis have a lot to discuss and cooperate such as Oil and Gas markets, they have to deal openly at some point. It is in none favour to go into a confrontation in Syria or the Middle-East....
... Occidental Petroleum Corp, Norwegian DNO ASA and others evacuated their expatriate staff and significantly scaled back or completely shut down production in Yemen.
On March 25, when a Saudi Arabia-led coalition launched airstrikes against Shia Houthis in Yemen, oil prices rallied with Brent increasing by $3 in one day. The effect of a surprise military campaign was short-lived and didn’t produce much change in the market. Yet for as long as the security situation remains uncertain in Yemen and Saudi Arabia ...