Oil War

Saudi Arabia kicked off an all-out oil war on Saturday, slashing official pricing for its crude and making the deepest cuts in at least 20 years on its main grades, in a bid to push as many barrels into the market as possible.
The cuts in monthly pricing by state producer Saudi Aramco are the first indication of how the Saudis will respond to the breakup of the alliance between OPEC and partners like Russia.
Indonesia Minister of Finance Sri Mulyani Indrawati said that the decline in oil prices can decrease Pertamina burden for its imports since Indonesia oil imports are quite large. "It will later be seen in the government's balance sheet," she added. But, she also worried about its effect in the capital market.