| Saudi Arabia is standing firm - and idle - as the oil rout chokes its OPEC partners and other producers like Canada. Saudi oil policies aren’t the cause of the slump, of course. At the heart of it all is an oil glut.
But Saudi Arabia’s refusal to cut production, and simply suffer the collapse in prices without taking at least some action, is seen as aggravating an already bad situation among producers. We’ll get fresh evidence tomorrow of how the oil rout is hitting home when Statistics Canada is expected to report that the economy just about stalled in the fourth quarter of last year...............................................Full Article: Source
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