Saudi Aramco Cuts Crude Oil Prices

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The cuts in monthly pricing by state producer Saudi Aramco are the first indication of how the Saudis will respond to the break up of the alliance between OPEC and partners like Russia. @ https://www.bloomberg.com

Aramco is moving to thwart Russia’s uncooperative move against slashing production. This, in turn, will only perpetuate the American  Shale oil crash.

“Saudi Arabia is now really going into a full price war,” said Iman Nasseri, managing director for the Middle East at oil consultant FGE. expect crude oil prices to crash.

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