Saudi Arabia is slashing shipments of crude to the United States, a move that appears calibrated to boost oil prices after a swift and punishing sell-off.
The move could put the kingdom at loggerheads with President Donald Trump, who wants to drive down energy costs for Americans and frequently accuses the Saudi-led OPEC cartel of jacking up oil prices.
The Saudis are loading fewer barrels on ships bound for the United States this month, continuing a trend that began in September, according to an analysis by tanker-tracking firm ClipperData. The firm’s loading estimate suggests that U.S. imports of Saudi crude oil could soon fall toward the lowest levels on record.
