Exclusive Opinion Piece : Has Saudi Arabia abandoned its role as a Swing Producer?, Asks Manish Vaid
Given its own economic conditions and plans for upcoming Saudi Aramco’s IPO next year Saudi Arabia cannot escape its role as swing producer, even though unwittingly.
The resilient U.S. shale output and sluggish demand from American drivers have kept U.S. stockpiles at historically high levels making efforts of OPEC and non-OPEC to cut oil production a futile exercise. These developments has forced experts to rethink about Saudi Arabia’s role as a ‘Swing Producer’ in rebalancing the oil markets. This article therefore explore the current oil market scenario alongside evaluating if actually Saudi Arabia has abandoned its role as a Swing Producer.