this is a good look at this from the Duran crew. Obviously, they are biased, but they do make some good points.
Clearly, a huge boon for China/Iran/Saudi and a huge loss for America and Israel.
Huge win for the conservative wing of Iran since they are bringing more security & possible financial improvement for the public. If they don't get attacked (will be harder for Israel to attack them now), then China probably has safe partner for a while.
Shows more maturity & confidence for MBS, who is obvious turned off by the oil price cap move among other things. MBS likely has backing of all the princes now. If he doesn't get overthrown, China has a strong ally here with Sunni countries.
America is likely to get forced out of Syria, where they have been stealing oil.
Does Turkey join this alliance?
If we look at things from the Chinese perspective. What did they bring to the table?
First, I think they need to bring Saudi security. Iran and Russia just signed Su-35 deal yesterday. this is right when Saudi FM visited Russia and re-affirmed OPEC+ ties. Made not a lot of sense at the time given the Saudi/Iran relationship. Now, it makes sense if China has also guaranteed security to Saudi Arabia through more regional support + arm sales. We can guess what that is: FC-31, KJ-500, 052D, CABs, HQ-9s, submarines, Ballistic missiles. And probably guarantee that if Iran goes nuclear, China will hep Saudi goes nuclear also.
For Iran, China can promise more financial/technological support if Iran stays off nuclear weapons and proxy wars.
For rest of Arab countries, China already know has friendly gov't in UAE where it sells a bunch of weapons, Iraq where it dominates the oil field, Oman where it buys most of their oil export, Egypt where it's been selling weapons, Algeria where it's been selling weapons.
All around, it just needs to do more of everything. And get these countries to trade in RMB as much as possible. Get them included into BRICS and SCO. Bring along Turkey if they are not too demanding. Sell Turkey weapons.
Keep in mind that the Ukraine conflict has stripped bare many of the weapon storage of Western countries. Russian weapons have been exposed. China is the only one able to deliver weapons in timely manner now. It's China's time to gain more influence over energy trading.