Saudis and OPEC plus are maximizing profits/ barrel while at the same time baiting the trap. As long as production they do not control stays flat or drops, they know that price per barrel has room to move provided they keep a tight handle on supply. When they see production they do not control start to move up or signs that it will, they will know that it is time for a controlled and if need be uncontrolled increase in production and more of a focus on market share. Let the higher cost producers start spending and build up more debit before before clobbering them yet one more time. It may take a while for this to happen as most of the non OPEC Plus producers are still smarting from the last skirmish between Russia and the Saudis. For now, OPEC plus knows it can make far more money by protecting price than by producing some extra barrels and that the competition is still very much trying to patch up its battered balance sheets! ;-)
In the meantime, we enjoy the long awaited party while it goes on.