The Guardian: Oil price rises to two-year high after Saudi Arabia purge
Markets push price up to $62 a barrel after anti-corruption purge by billionaire crown prince who backs prolonging oil production curbs
The oil price has hit its highest level since July 2015 after Saudi Arabia’s crown prince increased his power in the kingdom by launching an anti-corruption purge.
Billionaire Prince Alwaleed bin Talal was among the princes, ministers and officials detained by Mohammed bin Salman, who said recently that he backed an extension to production curbs by the world’s biggest oil-producing countries.
Oil cartel Opec is to consider prolonging the production cuts at a meeting in Vienna at the end of November. Analysts said the uncertainty generated by the future king’s actions were behind the price of international benchmark Brent jumping to more than $62 a barrel, compared with around $50 in the first half of the year.
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More News On The Impact That Saudi Arabia's Purges Are Having On The Price Of Oil
Oil hits two-year high and the path of 'least resistance is higher' -- CNBC
Oil surges 3 percent, at highest since mid-2015 on Saudi purge -- Yahoo News
Oil surges to over two-year peak; shares near flat -- Reuters
Oil hits 2-year high as Saudi graft crackdown raises prospect of production cuts -- CBC
Oil surges to over two-year peak; shares near flat -- Reuters
There may be a 'Game of Thrones' in Saudi Arabia now and that has big implications for oil -- CNBC
What the royal purge means for Saudi Arabia — and its oil -- Washington Post
