Saudi Arabia Could Slash Oil Supply To The U.S.

Saudi Arabia could be looking to slash crude oil shipments to the United States from next month to effect a tightening of the world’s most transparent oil market. As the Kingdom prepares to cut unilaterally 1 million barrels per day (bpd) from its crude oil production in July, its crude shipments to the west could be much more affected than exports to its primary market, Asia, which lacks transparent oil inventory reporting like the U.S. does, Bloomberg Opinion columnist Javier Blas argues. On several occasions in recent years, Saudi Arabia…