What’s Going On Here? The price of oil had one of its best two-day climbs on record, as Russia and Saudi Arabia shuffled closer to elbow-shaking on an end to their price war. What Does This Mean? Both Russia and Saudi Arabia have been producing more oil than anyone needed, and with supply massively outweighing…
Tag: Saudi Arabia
Ep 104: Feeling Faint
What’s Going On Here? The oil price suffered its biggest drop in almost 30 years, after Saudi Arabia unexpectedly flooded the market! What Does This Mean? Oil is caught in the middle of two at-odds countries right now. On one side, there’s Saudi Arabia – the biggest producer of the OPEC. And on the other, Russia…
Ep 75: Desperate Measures
What’s Going On Here? Oil firm Saudi Aramco came up short of the $2 trillion valuation it was aiming for in its forthcoming IPO, but it can still walk tall: the $1.7 trillion it now wants will still make it the world’s biggest public company. What Does This Mean? Aramco, which extracts and refines Saudi Arabia’s…
with HT 