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State-run oil giant Aramco stretched on its most popular crude ahead of Iran sanctions
ALGIERS, Algeria—Saudi Arabia is running low on its most prized grade of crude, people familiar with the matter said, a development that could push oil prices higher.
After coming under pressure from the Trump administration over rising oil prices, Saudi Arabia is set to use an oil-producers’ summit in Algiers on Sunday to reassure oil markets that it can fill any shortages that arise as U.S. sanctions restricting Iranian oil sales begin in November.