The Fall of Saudi Arabian Oil on the World Market

According to some sources, the Saudi state needs its oil to sell at a rate of 90 dollars a barrel to meet its expenses. Current oil prices are at about 50% of that amount. Saudi exports in oil are down 65% from April of 2019. If the Saudi oil empire is on the rocks, what will that mean for the rest of the Middle East? How will this impact China’s New Silk Road?

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