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BORROWING three words from Mario Draghi, the central banker who helped save the euro zone, Khalid al-Falih, Saudi Arabia’s energy minister, and his Russian counterpart, Alexander Novak, on May 15th promised to do “whatever it takes” to curb the glut in the global oil markets. Ahead of a May 25th meeting of OPEC, the oil […]
Heinz-Peter Bader/Reuters The Organization of Petroleum Exporting Countries made a smart move to limit production, but the move has had some unforeseen effects, according to Goldman Sachs analysts. In November, some OPEC members agreed with a few non-members to lower their production levels in a bid to support oil prices. It was the most significant agreement since […]
