Saudi Arabia may increase oil production in case of a tangible decline in Russia. Such an option, according to the Financial Times article, may arise in the event of Western sanctions imposed on Moscow.
At the same time, according to the Saudi authorities, "there is no real shortage in the market yet," even though the resource has become more expensive.
The publication also argues that despite the tensions that currently exist between the US and Saudi Arabia, relations between the countries have improved thanks to recent visits of delegations of the highest level.
The other day, Sergei Kolobanov, deputy head of "Economics of Fuel and Energy Complex Sectors," CSR, commenting on the situation, explained that the EU will be forced to look for an alternative to Russian gas if there is a reduction or complete stoppage of supplies. One of the options for replacement is considered the gas reserves of Africa.