Riyadh has refined its control of oil production over the years. But that doesn’t mean it can embargo the United States again.
What do Presidents Donald Trump and Jimmy Carter have in common? Both opted to lay into opec, the toothless global energy cartel, rather than blame Saudi Arabia, historically the world’s top oil exporter, for the price of oil. But as opec’s most powerful member, Saudi Arabia usually lies behind any production decisions the group makes.