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Saudi Aramco price cut not a surprise; inflation is real concern: XM Australia

Peter McGuire, CEO of XM Australia, on Tuesday, said that the real handbrake is going to be the inflationary numbers.

Peter McGuire, CEO of XM Australia, on Tuesday, said that the real handbrake is going to be the inflationary numbers.
In an interview with CNBC-TV18, he said, “The real handbrake is going to be the inflationary numbers that we are experiencing. Certainly, we saw a 10-year high across Europe and across Asia, in the US. So those inflation concerns are going to be the real issue, going forward, and certainly leading up to the end of the year.”
On Saudi Aramco price cut, McGuire said, “It doesn’t surprise me in a lot of ways because of inflation and concerns across Asia. So, Saudi is dropping that a little bit. I don't think it's going to have a structural significance to price in the short to medium-term.”
For the entire interview, watch the video