Saudi arabia launches oil price war after russia deal collapse

I think there may be some misinformation here. Saudi Arabia did not launch an oil price war after a deal collapse with Russia. In fact, the opposite is true.

In March 2020, Saudi Arabia and Russia, along with other major oil-producing countries, failed to agree on a deal to cut oil production to stabilize the global oil market. This led to a price war, with Saudi Arabia increasing its oil production and reducing its prices to gain market share.

However, in April 2020, Saudi Arabia and Russia, along with other major oil-producing countries, reached a deal to cut oil production by 9.7 million barrels per day (mb/d) starting in May 2020. This deal, known as the OPEC+ agreement, aimed to stabilize the global oil market and support prices.

The OPEC+ agreement has been extended several times since then, with the latest extension being until April 2022. The agreement has helped to stabilize the global oil market and support prices, although prices have still been affected by various factors such as the COVID-19 pandemic and changes in global demand.

So, to summarize, Saudi Arabia did not launch an oil price war after a deal collapse with Russia. Instead, the two countries, along with other major oil-producing countries, reached a deal to cut oil production and stabilize the global oil market.