Opec & MBS – backing a worn-out nag

Saudi Arabia’s bullish young Crown Prince MBS has rejected the olive branch offered by Joe Biden and opted to back Russia in the fight over oil prices. In the short term Putin wins with Opec+ agreeing to a surprise reduction in supply that will push prices up. But it could backfire badly on MBS, who is not known for his good judgement with the disastrous Yemen war and the brutal Khashoggi killing already blotting his record. Backing a clearly failing Putin is a puzzling gamble.  Opec,