What OPEC's Surprise Oil Production Cuts Have to Do With De-Dollarization
The Breakdown
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The Shifting Geopolitics of the SPR
The US is the world's largest producer of oil, but unlike the big OPEC players, there's no national oil company. Halima Croft again, the head of commodity strategy at RBC Capital Markets writes, It's a Saudi first policy. They're making new friends as we saw with China. We see this closely held decision is just one more indication that the Saudi leadership is making its oil production decisions with a clear eye to their own economic self interests.
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