Beyond the Gas Pump: A New World Order for Oil

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Franklin Allen, a professor of finance at Wharton and at Imperial College in London, said the Saudis’ change in strategy has added to the sell-off in oil. “They are willing to keep pumping oil even though the price is dropping dramatically,” he says. “I think they realize that if they kept the price where it was, they would basically end up with very little market share.”

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