Saudi Arabia has cleared up any doubts about its unhappiness with oil prices above $100 a barrel but last week's OPEC meeting has done nothing to dispel speculation that the kingdom may be willing to see crude go much lower for a while.
Crude's collapse from near $130 a barrel earlier this year has been brought about by a slowing world economy and determination on the part of Saudi Arabia to force the world to sit up and take notice when it flexes its supply muscles.
Saudi policy also appears to have subtly shifted. In 2008 Riyadh insisted it was supplying the market with all the oil that consumers wanted, this time it has taken steps to ensure that is really happening.
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