Could it be that the Muslims in Riyadh are trying to help out one of their own come election time?
Probably not, it’s probably just to slow down drilling in this country.
At $80, with the cost of some of the wells being drilled there will never be a payout.
It will cost more to drill/complete than you will ever get out of it so you don’t get investors to put money into drilling.
No money, no drilling.
No they are trying to stamp out horizontal drilling and fracing by selling at an artificially low price.
I don’t think it relates to US politics. The Saudis are just trying to make US oil production unprofitable.