Oil rally gives Saudi Arabia a chance to be steward of stability | Financial Times:
Is Saudi Arabia a responsible steward of the oil market?
Saudi Aramco, the cash-spewing state oil company, might have heralded its arrival at the top table of international finance last week with a glossy bond brochure and a blowout $12bn offering, but in the background the kingdom’s traditional role in the oil market is also under scrutiny.
Oil prices have rallied by 30 per cent since the start of this year to move back above $70 a barrel. There are numerous reasons to think they will go higher.
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