Saudi Arabia drops bombshell
Reversal of pledges to expand daily oil production beyond 12.5 million barrels has far reaching world oil supply implications
On April 20, Reuters reported that Saudi Arabia, the world’s biggest oil producer and exporter, had put its plans to increase long-term oil production on hold.
In a series of statements top Saudi officials, including Saudi King Abdullah, warned consumers it will not expand oil field development bey....
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