Low Oil Prices: Saudi Gift to Trump or Ticking Bomb? ...Middle East

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Low Oil Prices: Saudi Gift to Trump or Ticking Bomb?
source : OILPRICE ( Middle East ) () 71
OPEC+ yesterday agreed to yet another monthly boost in production, this time for a modest 137,000 barrels daily. Oil prices inched up, yet they remain tightly range-bound, with Brent at just over $65 per barrel following the news. On the one hand, this is good news for consumer countries—including the U.S. On the other hand, it’s bad news for producer countries—including, again, the U.S. The Wall Street Journal called Saudi Arabia’s strategy of leading the production cut unwinding a gift to President Trump. It would keep…

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