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Saudi Arabia is one of the world's largest suppliers of oil and, as such, they continually monitor the world price of it . In 2
Saudi Arabia is one of the world's largest suppliers of oil and, as such, they continually monitor the world price of it In that price was $ per barrel gallons and the Saudis produced million barrels of oil for the world market. Recently, the price has been around $ per barrel and the Saudis have reduced the amount of oil they are producing to million barrels per year. Using the concepts of supply curves and demand curves, explain why the Saudis would do this
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