Saudi Arabia Becomes the Oil Market’s Biggest Wild Card
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Source: OilPrice.com
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DW NOTE
Saudi Arabia announced in March it would raise output by 1 million barrels per day. That was before the Strait of Hormuz closed to two-thirds of normal traffic. Now Riyadh can flood a supply-short market or withhold and watch Brent climb above $110. The only certainty is that the decision will be made in Riyadh, not Houston.