$100 Oil: What It Means to Saudi Arabia, Global Economy

The video discusses the impact of $100 oil prices on the Saudi royal family's popularity, highlighting recent events like the G20 summit where President Biden interacted with Crown Prince Mohammed bin Salman. It also delves into historical events such as the 1986 oil price plunge and the challenges of breaking OPEC's influence. The video concludes by analyzing OPEC's strong market control, particularly through its alliance with Russia, and its ability to influence oil prices both upwards and downwards.

What factors contribute to OPEC's control over the oil market?

In what ways has Saudi Arabia demonstrated its ability to influence oil prices?