Saudis To Issue Debt As Price Crash And Oil Deal Hit Revenues

OPEC’s top producer and the world’s top oil exporter, Saudi Arabia, may soon tap the international debt market to raise money as the oil price crash and the historic oil production cut deal are hitting the Kingdom’s primary source of external revenues – oil income, four banking sources told Reuters on Monday.    Saudi Arabia’s oil revenues were already hit by the plunge in oil prices in March after the Kingdom went on a price war with Russia to claim more market share. The Kingdom reduced…