#NasdaqETFUpdate The kingdom is also focused on regaining market share from other OPEC+ members, Blanch noted:

"For more than three years, they have restrained production themselves, supporting prices, and allowing competitors to increase volumes. This is over."

The change in tactics is already yielding results: according to the latest data from Baker Hughes, the number of active drilling rigs in the U.S. has fallen to a minimum in about four years.