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On 8 March 2022 Saudi Arabia announced unexpected price discounts of $6 to $8 per barrel to customers in Europe Asia and the United announcement triggered a free fall in oil prices and other consequences that day with brent crude falling by 30% the largest drop since the Gulf War The West Texas Intermediate a grade of crude oil used as a benchmark in oil

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from captive iron ore low natural gas price and an increased demand for HBI Mexico regained its 4th place from Saudi Arabia and post ed virtually the same production numbers as in 2022 tons Saudi Arabia s production declined from to tons due to market pressures Most countries in the Middle

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