What Can Saudi Arabia Do to Stop Oil Prices From Spiking Further?

What Can Saudi Arabia Do to Stop Oil Prices From Spiking Further?

Saudi Arabia was regarded for decades as the ‘global swing oil producer’, able to quickly decrease or increase its oil flows to respectively raise or lower world oil prices. Riyadh has long perpetuated this idea, with grandiose claims about the Kingdom’s crude oil reserves and resultant spare capacity. After two of its key oil installations were hit by rockets from the Iran-backed Houthis back in 2019, it also highlighted that its capacity to re…

Saudi Arabia and the myth of endless oil: what is Riyadh's true ability to control prices? - Economic Scenarios

For decades, Saudi Arabia has been considered the undisputed global swing producer in the oil market, the "balancing producer" capable of