The price of oil, as the world tries to deal with the devastating pandemic and a global energy shortage, is hitting a new record high.
The benchmark US Brent crude oil price hit a record high on Monday, at $47.42 per barrel, according to Bloomberg.
But the Brent price has been rising since late September, and has continued to climb in the past week.
This is because the United States is running out of oil supplies.
That means we’re running out more of it.
It means we need more, and more of that is coming from Saudi Arabia.
Saudi Arabia is also exporting some of the world’s cheapest oil.
Brent crude, the world supply of oil with the highest crude oil costs, has fallen from $107.30 per barrel in September to $54.25 per barrel today.
But, this is not because of any sudden shortage of oil.
The price has fallen because Saudi Arabia has been buying some of its own oil and selling it at a higher price.
So, prices are falling because Saudi has been selling cheaper.
In fact, it is Saudi that is exporting the lowest oil prices.
Brent has fallen to around $33 per barrel.
So Saudi Arabia, as part of its plan to get oil prices to $70 per barrel by 2020, is selling its oil at around $34 per barrel to lower its costs, and is also selling less oil to the rest of the global market.
This will keep oil prices low for a long time.
But there are a lot of reasons why Saudi Arabia may not be able to maintain this low oil price.
One of them is that it is importing too much oil.
Saudi is exporting almost 70% of its oil to Europe, but is importing more than half of its crude oil to Asia.
The European Union has said that it will stop buying Saudi oil as soon as it is able to buy more European oil.
Meanwhile, the United Kingdom has said it is going to stop buying British oil because it is getting cheaper, and it will be able buy less of its imported oil in the future.
Saudi has also said that its oil reserves will not be enough to supply the world in the long run.
That will be a problem for the rest in the years to come.
Another reason Saudi Arabia can’t keep its oil prices at $70 a barrel is that the Saudis can only afford to buy so much oil from the rest.
The Saudi government has told the OPEC cartel that it only needs to buy about 20% of global oil production, and that is why it has been able to keep its crude prices high.
But that is also why the Saudis may be able keep the prices of their own oil high, because the Saudis are getting rich off of exporting cheap oil to other nations.
Saudi Oil Minister Ali al-Naimi told the Wall Street Journal that Saudi Arabia will keep buying crude oil from other countries, as long as the price stays low, and said that the price will be around $70.
Saudi exports have dropped since late August and have fallen to the lowest level since 2009.
The Kingdom is importing as much as 30% of world oil, but it is exporting less than half as much.
Saudi oil minister Ali al-‘Omar has said the Kingdom is not buying as much oil, and will continue to buy from other nations at the current low price.
Saudi imports are at their lowest since 2009, and are about $60 per barrel lower than what it bought in 2014.
It is now exporting about 40% of what it imported in 2014, and about 50% of that in 2018.
Saudi’s exports have fallen from around $90 billion in 2018 to around a mere $75 billion.
Saudi exported nearly $40 billion worth of oil last year, and Saudi Arabia imports are now below $20 billion.
But Saudi is also making a lot more money from selling oil abroad than it is selling it domestically.
The United Arab Emirates has said Saudi Arabia cannot keep selling more oil, because Saudi can sell more oil abroad and the more oil it sells, the lower its oil costs will be.
Saudi was supposed to export a lot less oil in 2018, but that is now being reversed, and its exports are now rising.
Saudi still needs to export more oil to get more dollars into the country, and this has put a lot pressure on its finances.
The U.S. is going through the worst energy crisis since the Great Depression, and now the Saudis need to pay their bills on time.
The Saudis are now also cutting back on some of their spending, including on salaries, healthcare, and infrastructure.
Saudi Aramco, the country’s largest oil company, announced on Sunday that it would cut 5,000 jobs, while cutting the salaries of the top five executives by 20%.
Aramco cut salaries for the top executive and its chief financial officer in September.
Aramco has also announced that it has cut its investment in