Why is Saudi Arabia pumping more oil into an already-full market? Riyadh looks fed up with propping up the oil price and losing market share. But launching price wars is becoming more painful. The Saudi-led OPEC+ group will return more than two million barrels a day of oil to the market by the fall if the cartel continues to unwind production cuts at its current rate.

U.S. shale is more vulnerable than in past price wars, needing $65+ WTI to stay profitable amid rising costs and geological limits.

First-quarter GDP grew by 3.4% compared to the same quarter of the previous year, beating flash estimates of 2.7% released in May by the Saudi General Authority for Statistics.

A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.

Saudi Arabia wants OPEC+ to continue with accelerated oil supply hikes in the coming months as it puts greater importance on regaining lost market share, according to people familiar with the matter.

Saudi Arabia is batting down the hatches for a "long and shallow” oil price war, in part to clip the wings of US shale energy companies, the Bank of America’s top commodities expert said.

Saudi Arabia and Russia had to reach a difficult compromise on OPEC+ policies on Saturday as Riyadh pushed to accelerate oil output increases while Moscow argued for a pause, four OPEC+ sources with knowledge of the talks said.

Saudi Arabia lowered the July price of its Arab Light crude for Asian buyers after OPEC+ decided to accelerate output hikes.

Mohamed Abu Basha, MD, Head of Macroeconomic Analysis at EFG Hermes Research, states that due to suppressed oil prices, Saudi Arabia must prepare for slower growth.