What Caused The Saudi-India Oil Rift?

A match has been going on in global oil, which has stayed largely out of the spotlight as the world focuses on the pandemic and its effect on demand. The match only recently garnered attention as the players dropped all pretense that they were not playing. Earlier this week, Saudi Arabia said it was hiking the official selling prices for its oil for Asian buyers. In response, India ordered its state refiners to reduce their purchases of Saudi oil. The game is on. OPEC’s largest producer announced the price hikes for Asian buyers days after…