“Few Saudi officials understand better than Prince Abdulaziz bin Salman the ‘never alone’ mantra. The current Saudi oil minister attended his first meeting of the Organization of the Petroleum Exporting Countries in 1987. It was a teaching moment for the young royal. For several years, Riyadh had cut oil production unilaterally to support prices, ceding market share to rivals inside and outside OPEC. At one point in late 1985, with output barely covering domestic consumption, the kingdom threw in the towel and sharply boosted output, triggering a price collapse. So why has Prince Abdulaziz, a critic of previous Saudi ministers who acted alone, taken the solo route?”

-Javier Blas, Bloomberg columnist. Saudi Arabia’s Solo Oil Production Cut Is a Risky Strategy. [Bloomberg]