“The Saudis have a very different point of view. The official line is that it is “ just an economic decision” — but it’s more than that. It’s a strategic move in the broadest sense, yet not aimed against Washington and even less toward Moscow. Saudi Arabia is attempting an epochal socio-economic transformation in short order. The country has a few decades to use its remaining oil revenue to remake itself into a society that can function without relying on petroleum exports.”

Hussein Ibish, Democrats Can’t Let OPEC+ Spat Derail US-Saudi Relationship [Bloomberg]