Saudi Arabia is in a state of panic

The great Kingdom of Saudi Arabia—the long-time dictator of crude oil prices for the world—is struggling on all fronts. The Saudis are losing their proxy wars in both Syria and Yemen; their OPEC leadership is under threat; they are not winning the crude oil price war; and its long-running alliance with the West is in question. From Saudi Arabia’s perspective, Iran seems to be gaining ground everywhere. Saudi Arabia has several weaknesses that help explain the current anxiety emanating from Riyadh. More...