The Presidential Daily Brief

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    Saudis Throw Down Gauntlet Over Oil Production

    They’ll slide it back if others will. Saudi Arabia has informed other big oil producers that they’ll reduce output as long as nations both inside and outside OPEC follow suit. The news signals a major shift in thinking from the world’s largest oil exporter, which has been glutting the market for more than a year, leading to huge drops in barrel prices. While it’s unlikely the rivals will be able to hash out an agreement before tomorrow’s cartel talks in Vienna, it signals an opportunity for a slick deal in 2016.

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