Summary
- The struggle to contain rising oil prices on world markets is just beginning as the US lifts exemptions on the purchase of Iranian oil.
- Saudi Arabia was furious over the surprise US exemptions granted in November after spending five months ratcheting up production to offset the anticipated loss of Iranian crude on world markets.
- A surprise detail in the prospectus of the Saudi Aramco bond offering has analysts questioning the depth of Saudi spare production……..
Source: Oil Prices Are Off To The Races