"Saudi Arabia resorts to Jedi mindtricks" on oil supply: FT Alphaville.

Olivier Jakob at Petromatrix: “It used to be that Saudi Arabia produced more oil when it wanted lower oil prices. Today, when Saudi Arabia wants lower prices it produces an op-ed in the Financial Times.” FT Alphaville: “It all does seem very counterintuitive. On the one hand Saudi is saying there is no supply shortage and stocks are at record levels. On the other hand it’s sending more crude to the United States. On the one hand you have high oil prices and the constant mumblings of SPR releases. On the other hand much of the analyst and academic community insists there’s no need for any emergency action. / So what is going on? / We’d be pleased to hear from anyone who can make sense of it.”