Interview: Saudi Arabia says price war was ‘unwelcome departure’ from oil policy

FINANCIAL TIMES 🔒| Saudi Arabia’s oil minister said the price war it started last month that drove the global benchmark Brent crude price to 18-year lows was an “unwelcome departure” from its strategy of pursuing collective production cuts.  Abdulaziz bin Salman, who is a son of the monarch, said in an interview with the FT that the kingdom’s moves to escalate production and drastically cut export prices were necessary to create a financial buffer for its economy.

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