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Politics : Foreign Affairs Discussion Group
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To: quehubo who wrote (109451)8/2/2003 12:32:35 PM
From: Nadine Carroll  Read Replies (1) of 281500
 
Dont underestimate Saudi's power to influence oil prices over the next few years. If they want to increase their revenues all they need to do is to reduce supply 5% more.

You may be right; I don't know the market well enough to have an informed opinion. I do hear that the slower economy has been depressing demand, and that Russia and Canada are both bringing new supplies onto the market, aside from Iraq. I thought that Saudi Arabia's usual lever on the market was to use their reserves to flood the market and lower prices sharply? This keeps the other oil producers in line.
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