LAA I will agree with you that Cutting prices is a far cry from increasing production.
But if you were the worlds largest supplier of calves; You usually held back calves when the market went slack to keep prices up; and then at the right moment when some big buyers were cutting buying of calves; kept shipping calves with a price tag of 50%; you would influence the market enough to drive calf prices down.
China and others are cutting oil imports creating somewhat of a glut in the market.
USA is pumping more oil than ever with a government export ban on crude oil. The Saudi price cut is selective; so they are selling oil to USA buyers at a reduced rate. Saudi Arabia in the past would have cut production to keep the price up but they did not do that this time so there is now a real glut of cheap oil in the USA.
Not really dumping oil on the market. More so refusing to artificially keep the price high by limiting supply.
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Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
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