Saudi Arabia is likely to resist pressure from other OPEC members to cut oil output in an effort to arrest the recent slide in prices. After all, the Saudi economy is in a stronger position to withstand a period of lower oil prices than many other members of the cartel. And, over the longer-term, the authorities may see a period of lower oil prices as working in their favour. That said, with the world set to be awash with oil for some time to come, growth in the country’s oil sector is set to be weak by past standards.
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