Saudi Arabia is preparing to abandon its oil production cuts strategy, and is willing to increase oil output, starting December 1, in a bid to win back its market share.
Saudi Crown Prince Mohammad Bin Salman (MBS) and Minister of Energy Prince Abdulaziz Bin Salman (ABS) believe this decision might trigger disputes with other OPEC+ members, including Russia and the UAE.
This note delves into the following key aspects:
- The reason behind Saudi Arabia increasing oil production
- MBS and ABS views regarding the decision
- Saudi expectations of the Emirati and Russian reactions
- Saudi strategy and preferences for future oil markets
