Saudi Arabia could be quietly planning to flood the market with cheap oil to target US energy companies, experts believe, despite the OPEC+ announcement last week of production cuts to lift flagging prices. The kingdom has been slashing output to stabilise prices but could now pump out an extra 2.5 million barrels a day, Paul Sankey from Sankey Research recently told CNBC, despite commitments to OPEC+ to cut production. Saudi Arabia and Russia agreed to cut oil production last week by 1 million barrels per day and 500,000 barrels respectively. But Sankey believes that Riyadh could quietly ramp up its output by 2.5 million barrels to target US and Brazillian producers
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