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Ronaldo’s $313m contract shows why it’s time to worry about oil

The extension of oil production cuts by Saudi Arabia is driven by its geopolitical and economic ambitions. But it could be bad news for central banks. 

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And now, the sporting news.

It’s not often that Chanticleer gets to delve into the world of professional sports, but Tuesday night’s news that Saudi Arabia and Russia will extend production cuts that have pushed global oil supply to the lowest point since November 2021 provides just such an opportunity.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/ronaldo-s-313m-contract-shows-why-it-s-time-to-worry-about-oil-20230906-p5e2dg