Saudi Arabia Faces a Dramatic Choice at OPEC
- Saudi-Russia meeting at G20 likely to determine OPEC outcome
- WTI crude plunged below $50 a barrel for first time in a year
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The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy.
For Mohammed bin Salman, the kingdom’s crown prince and day-to-day ruler, the dilemma has been sharpened by the murder of Jamal Khashoggi in the Saudi consulate in Istanbul. Under pressure from angry senators and other Washington power players, he needs Trump’s political protection.