Fighting for Oil Markets at the G20

World Leaders Fight Over Turbulent Oil Market at G20 Summit 

by TRNN

December 3, 2018

World leaders representing the largest economies are meeting in Argentina this weekend for the annual G20 summit. This year’s summit is marked by a few major issues and controversies, including the fight over oil prices, the aftermath of Saudi Arabia’s brutal killing of royalist Jamal Khashoggi, the trade war between the United States and China, and new relations over oil between India, China, Saudi Arabia, and other countries.

CNN noted this year that oil is one of the key topics at the summit. CNN pointed out that the price of U.S. crude has dropped around 20 percent just in this month of November, and some countries are complaining about oversupply. At the G20 this year, the leaders of Russia and Saudi Arabia, two of the largest oil producers, will be meeting to discuss oil.

As world leaders gather for the G20 summit, oil is at the top of the list of issues. Scholar Vijay Prashad discusses the fight between the US, Russia, China, and Saudi Arabia over price and production, and notes India is in talks with Crown Prince MBS.