The Federal Chancellor is campaigning for energy partnerships in the Gulf region.
(Photo: dpa)
Zurich The Saudi Crown Prince Mohammed bin Salman has received an unusually large number of state guests from Europe in recent weeks. Chancellor Olaf Scholz has just visited Riyadh. Bin Salman was also recently received in Paris and Brussels.
The European heads of government want one thing above all from the autocratically ruling prince: more oil. It is more than uncertain whether Saudi Arabia will deliver it: In view of the sharp fall in crude oil prices, the kingdom could even reduce its production, analysts fear.
Crude oil is currently trading at its lowest level since January: At around 83 dollars per barrel (around 159 liters), it is around 40 percent below the annual high from March, shortly after Russia’s attack on Ukraine.
Therefore, the alliance of oil exporters OPEC plus could decide on measures to stop the price decline at their summit meeting in early October – despite all the advertising attempts by the western industrialized countries.
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