Even if Saudi Arabia does not have such an agreement with the United States, but the world believes that Saudi Arabia does, the kingdom's negotiating power in Vienna will be hampered. For the current six month OPEC agreement, Saudi Arabia has actually claimed to be producing below its allocated 10.3 million barrels per day. If Saudi Arabia looks like it has committed to producing at a certain level in agreement with the United States, Saudi Arabia will lose leverage. (Photo by Mladen ANTONOV / AFP) (Photo credit should read AFP/Getty ImagesSome people may wonder if Saudi Arabia or the world has the spare capacity to do this. So, we know Saudi Arabia has the ability to come to an agreement with the U.S. to compensate for lost exports from Iran.

Source: Forbes April 22, 2019 01:57 UTC