Saudi Arabia has once again made it clear that it wants to see oil prices above $80 a barrel with no aims to see it higher than this mark, thus dispelling any thoughts of production cuts following oils recent price weakness. Some wonder if this move is designed to damage competitors such as shale producers in the US who need oil to be above $90 to make an acceptable margin, something at this time is not likely. Although the move by the Saudis is more likely to increase shale oil production R&D in the long term which in turn will
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