Riddle of the Saudi sands

This article was published in Middle East Oil & Gas Monitor, 15 May 2012. The Saudi oil minister must be feeling pleased with himself. At the end of March, with Brent crude trading at around $125 per barrel, Ali al Naimi wrote a sharply worded column in the Financial Times claiming there was “no rational reason” for such high and economically damaging oil prices. Since then, Brent has slumped to around $112. Giving the market a stern talking-to apparently did the trick. (more…)...
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