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Sunday, 03/08/2020 5:48:56 PM

Sunday, March 08, 2020 5:48:56 PM

Post# of 978
This look brutal for oil Futures here in Easter Europe already pointing to 38 and dropping!

Price cuts for key growth market Asia were as deep as $4-$6 a barrel, likely the biggest price reduction ever, and three times more than expectations of $2 a barrel cut for flagship Arab Light grade.

"It looks like an all-out Saudi shock and awe strategy to drive up Saudi volumes and compete with Russian oil in their own backyard in Europe as well as Asia," said Tilak Doshi, a senior visiting fellow at Middle East Institute, National University Singapore.

---The Happy Trader

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