Saudi Crown Prince Mohammed bin Salman has reaffirmed his country’s commitment to the OPEC+ agreement with Russia. The Kingdom has not made a move to bring extra crude onto the market despite the current spike in crude prices. Since 2017, Russia and Saudi Arabia have signed a string of high-profile energy deals that have pulled the Kingdom away from the U.S. sphere of influence. Saudi Arabia’s Crown Prince Mohammed bin Salman (MbS) reiterated last week his country’s “ commitment to the ‘OPEC+’ agreement ” – working alongside the agreement’s other key partner, Russia – despite the ongoing Russian invasion of Ukraine. MbS sought to couch this extraordinary re-assertion of his country’s alliance with Russia in terms of the “the kingdom’s keenness on the stability and balance of oil markets”. However, this idea was quickly undermined by the announcement of that the ongoing modest rise of 400,000 barrels per day […]