A dozen U.S. Republican Senators are urging the world’s top oil exporter Saudi Arabia to review plans to significantly boost oil supply to the market and lower oil prices while the world is grappling with the coronavirus pandemic. In a letter to Saudi Arabia’s Crown Prince Mohammad bin Salman, the 13 Republican Senators led by Dan Sullivan of Alaska and Kevin Cramer of North Dakota said that the extremely volatile and unsettled global oil market with plunging oil prices is “an unwelcome development.” “The United States has been a strong and reliable partner to the Kingdom for decades. In light of this close strategic relationship, it was greatly concerning to see guidance from the Kingdom’s energy ministry to lower crude prices and boost output capacity. This has contributed to a disruption in global oil prices on top of already hard-hit financial markets,” said the Senators, mostly representing oil producing […]