They’re no longer bound to limit production in line with how OPEC decides is best so they can potentially export more now (once shipping from the strait resumes) which will gain market share.
Probably a good idea since with China switching to renewables we are likely near/past peak oil demand and with prices going to be elevated into next year now’s a good time to make as much as you can off oil.
Somali Pirates Ransom Emirati oil tanker for $10M
Lmao