For decades Saudi Arabia and the United States have had a special relationship: Saudi Arabia providing the United States oil, and the United States providing Saudi Arabia protection against its potential foes.
The rapid rise in U.S. oil and natural gas, could end its reliance on Middle Eastern crude and then, could loosen its military protection of the region’s oil shipping lanes.
However, Saudi Arabia thinks that despite the boom of US oil, Saudi Arabia could hold his production of oil, at current levels until the next decade, due to global demand is rising, because Asia’s population growth surely, will be a driver for future oil demand.
Further, U.S. crude output, which has jumped to the highest level in about 20 years, will increase stability in global oil markets.
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