It would be ridiculous to claim that Boris Johnson’s visit to Saudi Arabia is not morally problematic. He is going to a country which held a mass execution for 81 people this weekend – a record number – and to visit a man who US intelligence blames for the brutal murder of the journalist Jamal Khashoggi. Yet, if the West wishes to reduce Vladimir Putin’s leverage – and stabilise the oil market – then it needs Saudi Arabia to pump more; no country has more spare capacity than Saudi Arabia, which could produce another 1.5 to 2 million barrels a day if it wanted to.
The best solution is – obviously – for the West to develop its own energy resources
China’s struggles with Covid, and the expectation that further lockdowns there are nigh-on-inevitable, has led to the oil market coming off its recent high: the price of a barrel of oil is now back below $100 a barrel.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in