OIL - Saudi's Oil Policy - 'Fool Me Twice Shame On You'
Welcome to the "won't be fooled twice" edition of Oil Markets Daily!
In an article, we wrote on Nov. 16 titled, "Saudis Got 'Trumped' - Watch What Happens Next." We wrote that in exchange for renewed sanctions on Iran, Saudi promised under the table with President Trump to keep the oil market well supplied. This meant that the Saudis would export extra crude into the US market to keep US inventories bloated. What followed was that the Saudis were fooled as the Trump administration issued waivers to 8 countries granting the ability to