Previously, we reported that Saudi Arabia is digging in for a "long and shallow" oil price war as it looks to regain market share from rivals like U.S. shale producers and OPEC+ members who have been exceeding their production quotas. This comes after Saudi Arabia made significant production sacrifices to support prices for over three years, which allowed competitors to increase their output. Saudi Arabia has also been hedging its oil price bets by rapidly diversifying its economy away from fossil fuels in recent years, expanding into areas such…