American Senators Urge Saudis to Take Action to Calm Oil Market
- Saudi-Russia price war has sent oil to lowest level since 2016
- Senators reference forthcoming meeting with Saudi ambassador
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More than a dozen U.S. Republican senators wrote to Saudi Crown Prince Mohammed bin Salman to urge him to take action to cool tensions in the oil market at a time when the world economy is already being battered by the coronavirus.
“It was greatly concerning to see guidance from the Kingdom’s energy ministry to lower crude prices and boost output capacity,” the senators wrote in . “This has contributed to a disruption in global oil prices on top of already hard-hit financial markets.”