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Saudi officials have told allies they can sustain a prolonged period of low prices

Forexlive | Forex News, Technical Analysis & Trading Tools · last updated

From Reuters:

Saudi officials in recent weeks have briefed allies and industry exports, telling they the Kingdom can sustain a prolonged period of low oil prices.

Oil is down on the headline. The context here is that Saudis are trying to threaten countries that aren’t complying with quotas and/or overproduction payback.

This could all come to a head on May 5 with the scheduled OPEC meeting.

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