Saudi Arabia has signalled it is willing to enter a painful price war to assert dominance over other oil producers, but worsening global economic conditions mean the kingdom's standard playbook might be less effective this time around.

Experts often talk about the oil price Saudi Arabia needs to balance its budget, but it has time and space to rely on debt, experts say

The 2014-16 price war largely achieved Riyadh’s goals, reducing global supplies and increasing Saudi Arabia’s control of the market, as did the 2020 spat, which resulted in Saudi Arabia and Russia both curbing production and agreeing to coordinate activity going forward.