According to Bloomberg :
Saudi Arabia is one of the few countries in the world that can boast crude production that’s profitable in the current environment. But the kingdom’s economy is at risk, too, as Riyadh needs much higher prices to fund its budget. So does Russia.
Why is boasting oil production in the pandemic-driven drop in demand of oil profitable for SA? I just don't get it.
The same article next states:
Russia argued at the time that it wasn’t willing to keep sacrificing production at its companies to prop up prices while shale explorers in the U.S. benefited from the cuts without contributing to them.
Follow up (I have to admit)
Why do shale explorers benefit from the current situation?