How low can oil prices go before Saudi Arabia starts hurting?
Dubai (CNN Business)Oil prices have crashed 30% in a matter of weeks but Saudi Arabia isn’t hurting just yet.
The OPEC kingpin and world’s leading oil exporter would like a higher price, and has suggested it will back a production cut when the cartel meets next week.
But in hard economic terms Saudi Arabia could bear even lower prices, and that would keep its key ally — President Donald Trump — happy at a time when the kingdom really needs its friends.
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