This is CBS. I on the world. I'm John Batchel.

Michael Bairns-Samm, the Hoover Institution is here.

My guide on the Russian economy under the severe sanctions of these last years

and under conditions that are conducive to Saudi Arabia and its allies, but not Russia when it comes to the

price of oil. The headline in the Financial Times, OPEC Plus plans to boost oil output and bid to

win back market share. Subhead latest in a series of production increases is likely to put downward pressure on Brent Crude price.

Brent Crude is the benchmark for the Europeans and the Asians is now trading in $69.

You will recall the original Russian budget was fixed at $70 in order to balance the budget.

It's been well below that for some time, given that they have to give discounts to

their only customers.

That would be India and China.

However, maybe even those customers are looking for better deals in future. Michael, OPEC is

continuing to increase its oil output, and they say it's market share. Is this also Muhammad

bin Salman influencing his colleagues to lower the price of oil because he's doing a favor for Mr. Trump.

The price of oil becomes a weapon.

Is that, am I thinking too conspiratorially?

Good evening to you.

We're living to you.

It is all of the above.

The most important renovation for the Saudis is that they're engaged in a very large

secular project of building

the new city, in Western press that is called the line.

...