RE:RE:RE:OPEC+I did read a bit more why Saudi will cut production ,
1st the non opec always run maximum production ,they don't have spare capacity
2- opec together control 40% of wold oil production as long they stay at 40% they cut production if price too low , if non opec production slow down and price go too much opec then produce more to lower price .
3 also opec need to manage geopolitical events and wold event like during covid and war in Iraq
4 if non opec produce too much and they go under 40% of their market share they flood the market and get back to 40% , the price will go down but also non opec producer as they don't want produce at a lost and production go down , and price go back up with opec stay at 40% market share
5- also opec cut or increase production base on supply and demand but they alrways manage so to keep the 40% market share .