https://oilprice.com/Energy/Energy-General/Is-Saudi-Arabia-Exaggerating-Its-Oil-Production-Potential.html which is why he claims Saudi Arabia did not produce to oil because it could not... then there is the recent $65 oil prediction with a looming recession/ depression. Not sure how long recently hired expats will last once financial pressures return...
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Wow as per article Saudi will have reserves to 15, maximum 20 years with an accelerated declination. Now I understand 2030 vision, they really need to change to other income alternatives soon.
65 USD is the normal, balanced price, less than that is a real reduction in demand as we saw during Covid pandemic. Current prices above 100 USD are related to Russian invasion but we can deny that none of the biggest oil producers can increase easily their production. Plans to add 130 rigs in Saudi only obeys to insane demands specially if you know current shortage of experienced people. Recent hires needs to worried more to deal with their colleagues, they see it like enemies that could be replace them at any moment.
Saudi trolls on the loose.