bn barrels: Its vast oil reserves it claims to have about 260bn barrels still to extract afford the most obvious advantage, according to The Guardian. The kingdom is the world's largest oil exporter, pumping or shipping about 7m barrels a day, and giving Riyadh huge clout in the global economy because it wields power to push up prices. It will have a powerful hand to play if tensions with the US and the west escalate and it follows through with Sunday's warning of retaliation. An editorial in Arab News by Turki Aldhakhil, the general manager of the official Saudi news channel, Al Arabiya, offers a hint of what could be in the offing. These would include an oil production cut that could drive prices from around 80 60 a barrel to more than 400, more than double the all-time high of 147.27 reached in 2008. He said Riyadh was weighing up 30 measures designed to put pressure on the US if it were to impose sanctions over the disappearance and presumed murder of Jamal Khashoggi inside the country's Istanbul consulate.
(news.financializer.com). As
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