openpolitics.com

Saudi Arabia’s Influes: Oil, Imports, Investments

Everyone knows Saudi Arabia is among the biggest producers of oil. What is less appreciated is that Saudi Arabia is the only producer with a flexibility to turn the tap on and off. No other oil producer has that power due to the production either being in private hands or the government being too poor. In other words, Saudi Arabia has the most control over world’s energy prices – most critical for western economies.

.. Saudi Arabia is among the world’s biggest arms importers – most of which is from US and Europe. It also imports billions of dollars worth of cars, machinery, medicines and other important items from the west.

.. In short, Saudi Arabia has the biggest influence over energy prices, is the biggest partner of the US in the region, is among the biggest importers and among the biggest investors. Most importantly, the lack of democracy provides a leadership stability that is absent in that region.