Saudi-Russian axis likely to adapt, not die, to keep oil market buoyant

Oil and gas markets are expected to remain buoyant, whether or not Saudi Arabia makes concessions to the United States and Europe by pumping more crude. Ahead of a crucial early-August meeting of Opec+ ministers, the signs are that the Saudi-Russian axis will hold, but the market is restructuring with China and other Asian buyers taking more from Russia while the Gulf sends more to Europe.