Economic security

Saudi crown prince gambles on an oil price war. His latest brash move could sink the world economy

Inside oil-rich Saudi Arabia, Mohammed bin Salman is both feared and loved. in the past few days, the world has witnessed what his subjects have come to know.

The powerful crown prince, known as MBS, will not shy away from confrontation if he thinks his and his kingdom's interests are under threat. In fact, his default desire often appears to be domination.

At the OPEC summit in Vienna last week, when Russia refused his call to cut oil production as demand dipped due to the global coronavirus outbreak, MBS upped the ante, challenging Moscow and threatening to ramp up Saudi production, triggering the steepest drop in oil prices since the US began bombarding Iraqi troops in Kuwait in 1991.

Saudi's king-in-waiting believes that Russia has been "cheating" on oil production agreements, and after giving them "many chances," according to one source close to the government, has decided that this is the moment to put his foot down.

The prince may not have wanted this confrontation right now -- or may have miscalculated the ability of his brother, the Saudi oil minister, to negotiate for him in Vienna -- but what is clear is that MBS, by default or design, can be a global disruptor.