DNO - Incentives Matter: Saudi Arabia Is Serious About Higher Oil Prices
Welcome to the incentives matter edition of Oil Markets Daily!
Comments by Saudi Energy Minister Khalid Al-Falih were ignored Monday by the oil market amidst the broad risk-off environment. But these comments are serious validations of the fundamental analysis we have done over the last several months.
Here are some of the comments made by Al-Falih Monday:
The first two comments are not a surprise, as we have documented over the last several months. But in fairness, US-Saudi crude imports have not plummeted as we originally thought they would. If we look at US-Saudi crude