MarketWatch | Oil prices shrug off reports of Saudi cuts to Asia sales MarketWatch That declaration came as the Organization of the Petroleum Exporting Countries—of which Saudi Arabia is the most important member—has struggled to reduce the oversupply of oil in the global market that has weighed on prices for three years. US oil prices slip, as market struggles to get through $50 Saudi Arabia to cut crude allocations in Sept by at least 520000 bpd: Source Venezuela crisis is the hidden consequence of Saudi Arabia's oil price war |