The only real power that Saudi Arabia has in the world comes from its oil sector. The greater its production appears to be, the more it is taken seriously by countries that otherwise would have nothing to do with it. Given this, it has been clear for many years that a closer look at the Kingdom’s crude oil production capabilities and its reserves figures plainly show that they are much lower than Saudi Arabia has said they are, as analysed in full in my new book on the new global oil market order. The release last week of Saudi Aramco’s…
