CNBC | A Glimpse Into Saudi Arabia's Secret Oil Strategy OilPrice.com Faced with an oil glut that is not expected to draw down until late into 2017 and that is depleting oil-dependent government coffers, OPEC is currently seeking ways – again - to stabilize crude prices. OPEC's de facto leader, Saudi Arabia, is seemingly ... US crude surges 2.6% on EIA data to settle at $51.60, best close since July 2015 Oil prices dip after strong rally, but sentiment remains confident Oil hits 15-month high as inventories fall |