Oil Price War: Will MBS Save Biden or Putin? | David Woo

The biggest geoeconomic question heading into 2024: can OPEC remain united in the face of surging US shale oil production. With the sharp decline in oil price since September, the Saudi Crown Prince Mohammed Bin Salman’s next step could have a huge impact on the power struggle of the unipolar vs the multipolar world. More specifically, will MBS cut oil production even more (good for Putin’s war economy) or will he boost oil production (good for Biden’’s election year economy)? Are Saudi’s economic interest and the interest of the BRICS still aligned? Putin managed to circumvent the oil sanctions by assembling a shadow fleet of oil tankers. But can he survive the improving efficiency of the US shale industry? Why might the Chinese economy be the only thing that could save Putin’s economy in 2024 and spare MBS from making a difficult decision? Where is oil price headed? David Woo, a former top-ranked Wall Street global macro strategist, tells it as it is. You may not agree with everything he says but he will make you reassess everything you thought you knew. Subscribe: Useful links: • LinkedIn: • Twitter: • Wikipedia: . RIWI-Unbound: #geopolitics #oilprice #saudiarabia