Abstract
The aim of the study is an attempt to examine the impact of oil prices on the politics of Russia and Saudi Arabia in terms of economic security. The research covers the period from 01.02.2000 to 10.03.2020. The study uses qualitative and quantitative methods to measure the effectiveness of Russia's influence in Saudi Arabia. The research began with a multidimensional comparative analysis and evaluation of data on the price of one barrel of crude oil in the world on a daily basis in the period 2000-2020 in terms of the impact of the COVID-19 pandemic and the politics of Russia and Saudi Arabia. The considered data obtained from the website www.eia.gov was grouped and specified in order to discover the regularities governing them. Then, advanced research tools were used to analyze and evaluate them dynamically in the form of categorized box-plot charts. The conclusion of the research is that low prices of crude oil per barrel over a long period of time may be a reason for the emergence of the global financial crisis. As a result, Russia suffers financial losses. Overcoming the crisis requires signing international agreements which are hampered due to the own interests of the leaders of world economies: the United States, China and Russia.
Highlights
The direct effect of the COVID-19 pandemic is the weakening of individual sectors of global economies, mainly: transport, tourism, gastronomy and others directly related to them
The research problem of this study focuses on multidimensional comparative analyzes of oil prices dynamically in terms of the impact of the COVID-19 pandemic, the politics of Russia, Saudi Arabia and security
The emergence of the coronavirus pandemic and the political, economic and energy situation in Saudi Arabia may have become a reason to weaken Russia's position in the world by drastically lowering of oil prices which in the long term may lead to a collapse of the Russian economy and, reduce its influence in the Middle East region
Summary
The direct effect of the COVID-19 pandemic is the weakening of individual sectors of global economies, mainly: transport, tourism, gastronomy and others directly related to them. This, in turn, has had an impact on the politics and situation of countries such as Russia and Saudi Arabia. The justification for undertaking this research was the observation that there is a lack of multidimensional comparative analyzes in the literature on the geopolitical situation of Saudi Arabia and Russia in terms of the level of oil prices and their fluctuations caused by the COVID-19 pandemic. The research problem of this study focuses on multidimensional comparative analyzes of oil prices dynamically in terms of the impact of the COVID-19 pandemic, the politics of Russia, Saudi Arabia and security. This article reviews the literature on Russia and Saudi Arabia's politics, oil prices and the COVID19 pandemic. A comparison method was applied to evaluate the grouped dependent variables of the oil prices in dynamic terms. The method of time series analysis was used which made it possible to detect regularities in the form of trend and seasonality on a monthly basis in crude oil prices in the considered retrospective data
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