I’m not sure you can blame the Saudis anymore. For sure they are a major factor, but it’s the mum and pop shale operators (and their big brothers) that are at the margin now, and they’re producing as fast as they can. As much as DT and many US commentators like to point the finger at The Middle East, the cause of oil price instability is much closer to home... IMHO
Positive Movement, page-94
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