Cut Oil Supply or Drop Riyal Peg? Saudis Face ‘Critical’ Choice - Bloomberg Business: "Saudi Arabia is pumping record amounts of oil this year, leading OPEC’s effort to defend market share even as Brent crude trades near the lowest level in six years. The slide in oil revenue has forced the kingdom to tap savings and sell debt to preserve its 30-year-old peg to the dollar, and for Bank of America Corp., that may mean the country faces a “critical” choice next year: either cut production to help boost prices or adjust the riyal’s rate to stem the decline in foreign reserves."
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