Trump Must Be Careful With His Oil Price Wishes - Bloomberg:
If oil prices are “to high,” as President Donald Trump tweeted over the weekend, there’s one obvious culprit – a supply side of the global market that’s looking, um, to tight: Consider the position of King Salman bin Abdulaziz, for instance. Saudi Arabia likes to have around 1.5 million to 2 million barrels of capacity a day of crude production spare to help balance out kinks in the oil market – probably one reason the U.S. president hit on that figure.
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