Due to oil crash in the oil price of 2014; Saudi Arabia is now undergoing through a real nature seismic shift in the politics, economy and society, which is now being spearhead by the Crown Prince Mohammed Bin Salman, popularly known as MBS.
Saudi Arabia is now looking for an oil price rise, which could be beneficial for achieving their Vision 2030. For their plan to be succeeded, they are also ready for tilting the international oil market into the scarcity.
Since the end of 2017 and the beginning of 2018, there was a long rally of the Brent and West Texas Intermediates (WTI) price have fallen, due to faster growth of production in US shale production.
While some analysts are now warning that this current price slide is just the beginning of a much higher decline in the oil price, but Saudis are not in a mood to hear all these words prior to their much-awaited IPO of Aramco, the official Saudi Arabian Oil Company.