Are the Saudis Scared to Cut Oil Production?

Are the Saudis Scared to Cut Oil Production?

By Jared Anderson

With the global oil market currently oversupplied to the tune of an estimated 2 million barrels per day, oil producer group Opec has struggled to formulate an effective strategy aside from “let the market sort it out.” For decades Opec played a price-setting role by increasing production to boost supply when prices were deemed too

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