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2014-10-25 00:00:00

SAUDI PLAYING VS

SAUDI PLAYING VS

Oil prices have fallen by over 20% in the last couple of months. Brent is currently trading $30 below its summer spike to $115 per barrel and many are left wondering what the Saudis are playing at. Based on conventional wisdom, past moves and motives, Saudi Arabia should lower production to stem the oil price decline.

Yet there is nothing conventional about what we are witnessing in the market. The world's largest net importer of crude oil is now China, a crown the US was not unhappy to give up earlier this year. Rising domestic production has meant the US is buying less from the global market leaving China with more clout and negotiating leverage. Worse still, Chinese demand…

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Tags: OIL, BRENT, WTI, PRICES, SAUDI, RUSSIA, US, CHINA, OPEC
Chronicle:
SAUDI PLAYING VS
2019, May, 20, 11:10:00
U.S. OIL PRODUCTION 12.1 MBD
U.S. crude oil production sustained a record-tying 12.1 million barrels per day (mb/d) in April while total petroleum demand was the highest for the month since 2007 at 20.2 million barrels per day.
SAUDI PLAYING VS
2019, May, 20, 11:05:00
U.S. RIGS DOWN 1 TO 987
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SAUDI PLAYING VS
2019, May, 17, 08:00:00
OIL PRICE: ABOVE $72
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SAUDI PLAYING VS
2019, May, 17, 07:55:00
OIL NEED PEACE
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2019, May, 17, 07:40:00
U.S., CHINA TRADE WAR
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SAUDI PLAYING VS
2019, May, 17, 07:38:00
21ST AFRICA ENERGY FORUM | 11-14TH JUNE | PORTUGAL
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SAUDI PLAYING VS
2019, May, 17, 07:35:00
GAZPROM'S SALES DOWN 10%
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