File image of Russian oil fields.
Derek Brower in New York and David Sheppard in London As an epic oil crash threatened more havoc on a pandemic-stricken global economy in April 2020, the US, Saudi Arabia, Russia and other G20 countries met to thrash out a solution. The co-operation helped end an Opec+ price war and restored stability to the market. Prices recovered. Two-and-a-half years later, and nine months into Russia’s war in Ukraine, such collaboration on energy between global powers seems a distant memory. Moscow has weaponised...