Saudis Are Tightening the Screws on US Oil Shipments

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When Saudi Arabia needs to quickly convince the oil market that supply is tightening, putting upward pressure on prices,  nothing beats reducing its crude exports into the US.Riyadh has promised to slash oil production next month by 10%, a unilateral cut that would reduce output to just 9 million barrels a day, the lowest since 2011 — save for brief disruptions from Covid and the Yemeni attack on its facilities. Crucially, as important . . .