Saudi-Russia oil alliance likely to undercut OPEC

[FarCenter]

DUBAI (AFP) -
Saudi Arabia hopes to bring Russia into the fold of an expanded club of global oil giants to sustain a stable market, leaving OPEC's role in question, analysts say.

The new union, spearheaded by Riyadh and Moscow, is expected to be larger than the 14-member OPEC oil cartel, which has dominated the global energy market for the past six decades.

But experts say an expanded group that includes Russia means OPEC's sway in global oil is fading, if not all but "dead".

http://www.france24.com/en/20180419-saudi-russia-oil-alliance-likely-undercut-opec