“#Saudi Aramco Abruptly Drops Plans to Expand #Oil Production - “The decision probably reflects a view that the world does not need as much Saudi oil as was previously expected,” said Neil Beveridge, an analyst at Bernstein, a research firm.
...the timing of the press release begs the question whether the #Saudis see just a way to increase market share as a major competitor is having second thoughts and reducing climate-unfriendly #LNG exports.
@GottaLaff Another explanation could be that expanded oil production would mean more supply and likely lower prices and a downward effect on inflation. Maybe not what their friend Trump likes to see in an election year.
Add comment