Reformed Saudi Economy Could Be Good for Oil Markets

In the past, oil price manipulation from foreign, government-run oil markets led to high prices, which correlated strongly with poor economic growth in the U.S.

Increased oil production in the United States not only lowers prices and increases energy independence, but decreases the market share of price-manipulating oil cartels.

Oil-reliant Saudi Arabia’s decision to privatize much of its economy (including a portion of the government-owned oil company) is good policy that could improve the freedom of international oil markets.

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