Another chip of the old block tries himself at the oil show. Lets cut the man some slack – even a magician could not turn the problems Saudi Arabia faces with its oil industry around. They need high prices to survive, but they need low prices in order to crush the competition. Sounds like a catch 22 to me.
When former Saudi oil minister Ali al Naimi crushed oil prices in 2014 by adding to global oversupply, one man in the kingdom stood firmly against this strategy.