Saudi Arabia’s oil minister says more refineries neededExxonMobil head says conservatively 2 trillion barrels of oil remain, more than twice oil so far recovered Terry Leonard Associated Press Writer
Saudi Arabia’s oil minister said Sept. 27 that world oil reserves are more than enough to meet rising future demand but that without new refineries prices will remain high and markets volatile.
“These are turbulent times for oil markets. Prices are under pressure because the petroleum industries in....
[additional news subjects in this story]
Price attracts investment Exxon: at least 2 trillion barrels
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