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July 20, 2007
Why is Saudi Arabia cutting oil production while prices are high?
Because they can and we have no alternative.
As the US Senate contemplates a withdrawal of forces from Iraq and as oil prices approach record highs, Saudi Arabias oil cuts continue to keep markets tight. Riyadhs defiance may be linked to internal politics and its post-US occupation Iraq strategy.
Read the Lehman report here: THE_LOGIC_BEHIND_SAUDI_OI_100986137_424505.pdf
Posted by Martin at July 20, 2007 11:25 AM
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