Online Public Relations Thoughts

Saudi Arabia's decision to cut oil supply for the summer is sending a message.  The kingdom stands on its own and is independent of what the rest of the world needs in energy.  The Saudis have the oil: The world wants it.  Be prepared to pay.  While this short-term strategy will work for the country, it will fail in the long run.  Higher fuel prices will stimulate EV sales and lower overall demand.  The Saudis know this certainly and are riding the curve downward.  There are still decades to go before the kingdom is no longer a factor in energy needs, but the process has started.  In pursuit of price stability, they will eventually have to cut more production, then more still.