https://www.nasdaq.com/articles/column-rising-us-oil-production-frustrates-opec-cuts:-kemp
Saudi Arabia has tried screwing the West financially by blackmailing other OPEC producers to reduce oil production. Like almost everything Muslims do to manipulate trade and gain power, this backfired and created incentives for even more drilling in the USA.
Saudi Arabia has the WORST advisors that overpaying can attract. Perhaps they are giving such terrible advice on purpose.
The USA now produces 11 million barrels a day. Current prices are $77 a barrel. So that’s $847 million a day or $309 BILLION a year in revenue.