Saudi Arabia Said to Have Offered $4 Billion to Banks – Bloomberg

It’s a Race to the Bottom between Saudi Sovereign Wealth and American Shale Producers. 2017 will be the Year of the Shakeout.

 

Saudi Arabia’s central bank offered lenders short-term loans in late June to help ease liquidity constraints, according to five people familiar with the matter.

Source: Saudi Arabia Said to Have Offered $4 Billion to Banks

It is just not working out the way the Saudis thought it would, as US creditors have gone out on some shaky limbs to prop up their disastrous oil investments as well.