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At the end of September, the Organization of Petroleum Exporting Countries (OPEC) surprised the markets by agreeing to a production cut.
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Thus far, the Saudi royal family has maintained its highly oppressive form of government by pacifying its people with an extensive welfare state funded by oil money. But low oil prices brought about by hydraulic fracturing in the United States are forcing the monarchy to give the Saudi people more freedom in order to remain in power.
