Oil Prices

On oil, Saudi Arabia admits defeat

After two years of trying to squeeze out U.S. shale oil, it’s ready cut production.

Saudi King Salman bin Abdulaziz Al Saud, pictured in 2013. A royal decree late last month announced that Saudi government ministers’ salaries would be cut by 20 per cent. US Department of Defense photograph by Erin A. Kirk-Cuomo

PUBLISHED :Wednesday, Oct. 5, 2016 12:00 AM

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