Mismanagement is driving Saudi Arabia towards bankruptcy
by Motasem A Dalloul
1 May 2020; MEMO: On 6 March, the OPEC+ cartel failed to agree on a cut in oil production in the light of reduced demand due to the coronavirus pandemic affecting almost every country in the world. All of this came in the middle of a global financial crisis. Saudi Arabia proposed the cut, and OPEC members accepted it, but Russia, which is OPEC’s “+”, spearheaded the call to reject it.