Industrialized Cyclist Notepad


Senator Schumer wants Saudi Arabia to talk down oil prices

But Senator — to what degree will desperate-sounding ‘comments’ from US officials like yourself counteract those hypothetical emphatic promises? Seems like Shoom is scrambling for relevance.

Schumer called on Saudi Arabia to repeat its intention to make up for supply losses, arguing the comments will drive down gas prices, which are tethered to global oil prices.

“If the markets believe this is real, the price will come down even further. So we are asking the Saudis to repeat this promise,” Schumer said.

“The more explicit they are, the more emphatic they are, the more they ensure the markets that they are for real here,” he continued, “the more the markets will calm down more permanently and the more the price will come down.”

via Schumer: Saudi Arabia's plan to increase oil supply will lower gas prices – The Hill's E2-Wire.

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