The Presidential Daily Brief

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  1. Saudi Arabia Applauds Its Oil Strategy

    They like feeling needed. The kingdom has been using oil as a weapon to dominate the global energy market, driving up production in spite of low prices in a bid to squeeze out rival crude and U.S. shale producers. And a Saudi official has now declared the strategy a success, with the price glut quieting competitors and giving Saudi Arabia the upper hand, at least for now. Even more costly? Adoption of non-fossil fuels could be delayed by the kingdom’s efforts to “extend the age of oil.”

    FT (sub)

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