Saudi Arabia — the world’s largest exporter of crude oil — curbed output last month, according to OPEC delegates, following signs that the kingdom couldn’t find enough buyers to justify elevated rates of production.

The fear is China friction related to higher tariffs will slow global economic growth and reduce fuel demand.

Article Courtesy of Transport Topics

“The Saudis are sending clear signals on their desired price range,” Mike Wittner, head of oil market research at Societe Generale SA, told Bloomberg News. “When the concern was prices getting too low, they unexpectedly trimmed output.”

Saudi Arabia — the world’s largest exporter of crude oil — curbed output last month, according to OPEC delegates, following signs that [...]