Last May, the Saudi minister of energy warned that “the world is running out of energy capacity at all levels.” More recently, in a chat with U.S. President Joe Biden, French President Emmanuel Macron reportedly said UAE President Mohamed bin Zayed told him that the United Arab Emirates had reached its maximum oil production capacity. […]
Saudi Arabia: No Longer a Swing Oil Producer
Riyadh has consistently exaggerated its ability to stabilize the oil market.
