SAUDI HAS TRUMP-SHAPED REASON TO REVERSE OPEC CUT
Donald Trump may have handed Saudi Arabia an excuse to back out of a shaky pledge to cut oil output. Fears that the U.S. president-elect will supercharge domestic drilling, renege on global climate-change commitments and restore sanctions on Iran mean it is in the kingdom’s best interest to keep the spigots wide open. The Organization of the Petroleum Exporting Countries (OPEC) is due to finalise a reduction in total production at its next scheduled meeting in Vienna on Nov. 30. The 14-member group wants to limit output to around 32.5 million barrels per day (bpd),