Trump Repeats Donald Trump Doctrine "No War", Oil And Saudi Arabia Become More Irrelevant:

Ok the oil prices did jump 15% - 20% over the weekend but that was just the usual knee jerk reaction. The world markets have not been too rattled.

Oil industry observers say there is an oversupply of unsold oil stocks all around the world. Plus the shale oil boys are going to ramp up their production again. The US is now the largest producer of oil in the world and also a net exporter.

So this disruption of more than 50% of Saudi Arabia's oil supply (50% being almost 6 million barrels of oil PER DAY) is not going to worry the oil markets too much.

Also note that the US sanctions have prevented about 4.0 million bpd of Iranian oil from reaching the world markets. Meaning the world has enough oil. (Plus Trump and Iran are going to kiss and make up very soon.)

Then here is some Donald Trump news :

President Trump said Mon . . he did not want to go to war
Trump has spent his presidency to disentangle US from wars he inherited
Trump made it clear not rushing into new conflict on behalf of Saudi Arabia
“I’m somebody that would like not to have war” Trump said

In other words the US does not need anymore Saudi oil. This also means that Trump is telling Saudi Arabia "I don't really care if the Houthis or the Iranians attack you. You are on your own." The Houthis (and maybe the Iranians too) have the green light to carry out more attacks against Saudi Arabia. Saudi Arabia is toast.

Oil industry observers say it is going to take months to repair that Buqaiq oil refinery. This means that not only will Saudi Arabia lose billions of dollars in oil revenues but they would also have depleted their unsold oil stockpile sitting in storage facilities in the country. Saudi Arabia is toast.

Trump is also on track to having that meeting with Iran - the first official contact between the US and Iran in 40 years.

The Iran - US meeting will possibly take place on the sidelines of the UN General Assembly which starts today Tuesday 17th September 2019.

"Trump left open the possibility of a meeting with Rouhani at the upcoming UN General Assembly in New York. . . They would like to be able to solve their problem," he said, referring to inflation in Iran. "We could solve it in 24 hours."

If Trump and Rouhanie kiss and make up it could very well open up 4.0 million barrels of Iranian oil into the world markets. Saudi Arabia is toast.

Saudi Arabia is a barbaric wahabi / salafi nut job. All logic indicates that there will be a 'changing of heads' in that country soon. They are not a democracy. Changing heads is done through head chopping.

They are reverting back to what they were before - not relevant.