Summer slack won't bring down Saudi oil production

Piqued again by OPEC's failure to move back towards unified oil prices, the Saudis have boosted their own price by $2 and let it be known that they will continue lifting an extra 1 million b/d indefinitely. The fight is now on again for the next level of oil prices, with the Saudis lined up against the hawks. The Saudis appear this time to have every intention of winning.