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Why the Saudis Are Cutting Oil Prices
On Oct. 1, Saudi Aramco, the state-run oil producer of the world's biggest exporter, cut prices for all its exports, reducing prices for Asia to the lowest level since 2008.
By cutting oil prices rather than export volume, Saudi Arabia has signaled it is now ready for a potentially costly price war.
Here’s what’s behind the Saudis’ move, and what it means for the U.S. oil boom…
On Oct. 1, Saudi Aramco, the state-run oil producer of the world's biggest exporter, cut prices for all its exports, reducing prices for Asia to the lowest level since 2008.
By cutting oil prices rather than export volume, Saudi Arabia has signaled it is now ready for a potentially costly price war.
Here’s what’s behind the Saudis’ move, and what it means for the U.S. oil boom…