A looming oil supply glut may make Saudi regret choosing Trump over Opec

The kingdom chose Trump over Opec back in June. Now, the rest of the producer group may want payback

Opec and friends meet in Vienna later this week, and the backdrop isn’t pretty. Oil prices are their lowest in over a year, and there’s the prospect of a glut in 2019 if the group doesn’t make a new deal to cut production.

But agreement may be impossible. Saudi Arabia is adamant the burden must be shared. Others in the group argue that the kingdom’s output boost since June has created the problem and it is up to the kingdom to solve it by bearing the brunt of the cuts.

The swing producer is in a difficult position. From an economic perspective