it is Noted that Saudi Arabia can sell its oil. They are looking for new buyers of oil. Her clients are faced with the problem of lack of storage, it is more difficult to buy fuel.
the demand for oil from Saudi Arabia in India. This is mainly due to the coronavirus. Therefore, the oil company of the Kingdom will be forced to further reduce oil prices to keep its share in other markets.
Recall that less than a month ago the deal fell through OPEC+, which led to the decision of Riyadh to significantly increase the volume of oil production. Saudi Arabia has decided to oust Russia from the world market due to cheaper oil. However, now Riyadh experiences problems in the current situation. And Russia has managed to redirect its European exports to China where demand for oil began to recover.
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