Saudi Arabia said it wants to work with other producers for a stable oil market. Volatility hasn’t been so high since early 2009, when the U.S. was going through the Great Recession triggered by the subprime mortgage crisis. The recent spike was caused by Saudi-led OPEC’s decision on Dec. 4 to abandon a quota system that had been used to prop up prices. West Texas Intermediate trading saw the 30-day historical volatility reach a seven-year high on Feb. 22, and it remains close to that level, according to Bloomberg data.
Photographer: Martin Divisek /Bloomberg
Oil's Surging Volatility Prompts Saudis to Talk Stability: Chart
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