Leslie Palti-Guzman, Founder at Energy Vista, examines geopolitical risks to oil and gas production as Saudi Arabia announces production cuts. Oil smashed through $100 a barrel as Saudi Arabia joined other major Middle East producers in cutting output, with a standstill of tanker traffic through the vital Strait of Hormuz choking off supplies to the rest of the world. Saudi Arabia is beginning to cut oil production as its storage tanks fill up, according to a person familiar with the situation,