Russia and OPEC+

Russia must rejoin OPEC+ and make a deal with Saudi Arabia to cut oil production. Saudi Arabia is exporting way too much crude oil. Saudi Arabia must cut its crude oil export by more than fifty percent to Balance the oil market. Saudi Arabia thinks Saudi must always maintain large share of crude oil export to give Saudi Arabia an edge in its foreign policy. Saudi thinks only by being world top exporter of crude oil Saudi Arabia maintains it global power. But it is extremely false assumption. Iran exports zero barrel of crude oil and is considered region super power, Major nuclear super power, and global super power. But Saudi Arabia is a regional super power at the best. Saudi Arabia must divest and reduce reliance on export of crude oil. One of the methods for cutting back on export of crude oil is expanding petrochemical facilities Iran, Russia, and Saudi Arabia. They must increase their petrochemical refining capacity by 100 percent in 1 year to refine more of their crude oil into advanced petrochemical products, added value petrochemicals, and other refined petrochemicals. This way Iran, Russia, and Saudi Arabia will increase the profits of exporting oil by many folds by refining it first. They can also use the petrochemical products in their domestic industrial supply chains further developing petrochemical products to another end products within another industrial supply chain. This will increase their GDP, economic output, global power, and it will increase the value of oil. This means Saudi will not export too much oil crashing oil market. #Saudi #Russia #Iran