Yes, that's the intention. The problem for Russia and Saudi Arabia is that, thanks to global climate change and the push for renewable energy, petroleum is on

Yes, that's the intention. The problem for Russia and Saudi Arabia is that, thanks to global climate change and the push for renewable energy, petroleum is on its way out over the coming decades, so both nations are on the path to financial disaster. Saudi Arabia realizes this and is trying to diversify its economy, though it is hard to see how it can do it fast enough to avoid disaster. Russia isn't even trying, and instead is more focused on Putin's geopolitical adventurism.