[thackney]

Because of electric and toy cars consume less gasoline?

This is a reduction in supply of oil, not the consumption of oil.

[Leo Carpathian]

All of a sudden Saudis discovered less supply of oil?
There is an explosion of oil supply thanks to fracking, more gasoline on the market, prices dropping, which Saudis and other members of oil cartel do not like or they are feeling the pinch.