Saudi Arabia Using Idea of Higher Oil Prices If Russia Stops Support for Syria

Rob Griffith/Reuters Russian President Vladimir Putin, left, and Crown Prince Salman bin Abdulaziz Al Saud of Saudi Arabia during a plenary session at the G20 leaders summit in 2014. It looks as if Saudi Arabia might be using oil policy to pressure Russia into backing away from its support for the Syrian regime of Bashar Assad.

The New York Times reports (emphasis ours):

Saudi Arabia and Russia have had numerous discussions over the past several months that have yet to produce a significant breakthrough, according to American and Saudi officials. It is unclear how explicitly Saudi officials have linked oil to the issue of Syria during the talks, but Saudi officials say — and they have told the United States — that they think they have some leverage over Mr. Putin because of their ability to reduce the supply of oil and possibly drive up prices .... http://finance.yahoo.com