Naimi

Saudi Economic Shake-up Shows It is Planning for Cheap Oil

By Rania El Gamal DUBAI, Dec 29 – Saudi Arabia’s planned cuts in spending and energy subsidies signal that the world’s largest crude exporter is bracing for a prolonged period of low oil prices. The OPEC heavyweight shows no signs of wavering in the long-term oil strategy it has orchestrated since last year. Instead, it

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