"Saudi Arabia's Potential 'Market Share War' Could Flood Oil Supply, Impacting Prices"
Saudi Arabia may reverse its strategy of curbing oil production to boost prices and instead wage a "market share war" against the US by flooding the oil market with supply, according to energy expert Paul Sankey. The goal would be to bankrupt the US shale industry by making it unprofitable to drill oil. This tactic was previously used by Saudi Arabia in 2014 and 2020. The current setup, with weakening demand and lack of support from OPEC, is similar to previous episodes. If Saudi Arabia follows through with additional supplies, it could potentially lead to a flood of oil and lower crude prices.
