Saudis Hurting

Low oil prices are even beginning to hurt Saudi Arabia, arguably the strongest global player to weather the oil price downturn.



The Wall Street Journal reported that Saudi Aramco is cutting costs in line with lower prices, negotiating lower fees for everything from phone bills to major contracts with oil field service companies like Halliburton (NYSE: HAL) and Schlumberger (NYSE: SLB). It goes to show that even the world’s largest oil producer is feeling the heat, and is trying to find ways to make its operations leaner.

This entry was posted in oil derivatives, Oil Futures, Oil Price Futures, Oil Prices, Oil Prices Futures, oil war. Bookmark the permalink.

Comments are closed.