A flood of Saudi oil is headed for the United States. Here’s what that means for struggling American producers by theothersarahh
A fleet of oil tankers loaded with oil from Saudi Arabia is en route to the United States, the; those tankers, which departed prior to the OPEC+ agreement last week, contain seven times as much oil as Saudi Arabia sent in a typical month last year. , shipments of Saudi oil to the United States have already almost quadrupled since the outbreak of the virus and the beginning of the price war.
The agreement wasn’t enough to stabilize prices, however; the Brent crude international benchmark has fallen more than 12% since it was finalized.
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