Saudi Arabia is feeling some significant fiscal pain as a result of a collapse in oil prices it helped to engineer. But that doesn’t mean the world’s most important oil producer is likely to change its tune.
Here’s a recent pair of headlines out of the desert kingdom:
Those developments have oil bulls salivating. They argue that Saudi Arabia and its fellow members of Organization of the Petroleum Exporting Countries overestimated the resiliency of U.S. shale producers when they embarked on a price war aimed at taking market share back from the U.S. and other non-OPEC producers.Click here to continue reading.
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