His predecessor Al Naimi knew this – and his “keep prices low” strategy way going to work if they could muster the patience for it. But they could not. Now it’s too late. Shale is almost impossible to deal with for OPEC now. So much for missed opportunities.
Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.