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by hjnilsson
3560 days ago
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Saudi Arabia significantly cut the oil price (which caused the global dip), and is since making up the difference by withdrawing from the oil fund. The long term goal here is not entirely clear, but it mostly seems like a way to hurt the Russian economy and the fracking industry. |
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Saudi Arabia can't cut the price of oil. They can increase or decrease their own (albeit large proportional) supply.