The US shale oil industry is increasing production while controlling capital expenditures, defying expectations and exerting pressure on the OPEC+ cartel, particularly Saudi Arabia. Despite a 15% year-over-year decline in the oil rig count and falling prices, efficiency gains have allowed US supply to outperform forecasts, according to Goldman Sachs. This trend was highlighted during the second-quarter earnings season, which emphasized "more production, less spending." Meanwhile, Saudi Arabia's Public Investment Fund (PIF) is undergoing a technological transformation by incorporating artificial intelligence to enhance investment processes, including asset analysis and real-time reporting. However, the PIF recently wrote down $8 billion in value from its flagship megaprojects. In a strategic shift, Saudi Arabia is also investing in renewable energy to reduce its domestic petroleum consumption and is promoting tourism development in the Red Sea region. Despite these efforts, Saudi stock market gains may require more than foreign investment to improve.