Oil companies seeking $6.6 billion in Saudi Arabia bailout fund
Saudi Arabia is looking to shore up its fragile oil industry and its fragile economy in a $6 billion rescue package for its struggling energy industry.
The U.S. has been trying to get the kingdom to buy billions of dollars in American-made crude oil, and the U.K. has also been looking to do so.
Both governments are now calling for Saudi Arabia to buy more of the country’s oil.
But the U-S.
and the European Union are also seeking a bailout.
The EU’s foreign minister, Federica Mogherini, has called on Saudi Arabia “to step up” to buy some of the nation’s oil and said that her government would ask the U