The oil crash has been a huge blow to Saudi’s rivals
Blog : Global chemical price

Published on January 20, 2015

The current situation in the oil market is not likely to last in 2015, however Saudi Arabia has decided not to cut production levels, which was the main reason behind lower prices. Nevertheless, the nation did not intend to use this as a diplomatic defence against countries like Iran and Russia.

The fall in oil prices was the result of a number of factors. And despite what a number of people believe, Saudi did not cause the price crash, as oil related matters were economic in nature. And what followed was a weakening of Riyadh’s regional rivals in Syria, Iran and Iraq.

Saudi Arabia has always tried to apply the country’s oil policy and the nation has taken its role of a swing producer very seriously. It is aware of the fact that their role is a key support of the international community.  Thus this year Saudi is expected to use its position in the oil market to fulfil its fiduciary duties.

Experts expect that the political gains attained would not be haphazard, especially considering the volatile regional and international settings

The rise of Daeshcould have created problems in the Arabian Peninsula. However, Saudi decided not to take any chances and adjusted their relationship with the country’s conformist religious institution.Under the encouragement of puritanical clergymen, the Unitarian school of Sunni Islam saw a systematic assault on its traditional teachings, which affected naive youths.

As a result Riyadh implemented regulations over sermons, gave importance to modernized clergyman, hired pro-reform individuals to important positions to think about legal matters and tried to endorse a non-religious national identity.

These actions helped make one thing clear- true Islam was not that which was being promoted by Islamist militants. To prevent the rise of Islamist extremism among young Saudi citizens and to prevent fanatical teachings, the ruling family encouraged modern methods to help focus on scientific education and foreign languages.

Reforms in the legal area were accelerated in 2014 via a new examining process imposed on clerics of the field.

Recently, Ahmad Al Ghamdi, the former Makkah head of the Commission for the Promotion of Virtue and the Prevention of Vice appeared on television along with his unveiled wife. This act was seen by many as a sign that their faith need not necessarily be associated with the uncovered faces of Saudi women.

King Abdullah Bin Abdul Aziz always tried to promote new ideas, nationalism and an image of a modern and dynamic Saudi Arabia.