Remember those problems WTI crude had earlier this year with Cushing delivery? Remember how they cast a doubt on the grade’s position as a global oil benchmark?
Well it seems Saudi Aramco, the state oil company of the world’s top oil exporting nation, may have been more worried about the issue at the time than it originally made out.
In any case, on Wednesday, the state producer made abundantly clear what it thought of the benchmark. Here’s the press release from energy OTC pricing agency Argus (our emphasis):
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