SAUDI ARABIA’S WISH FOR LONG-TERM HIGHER OIL PRICES MAY JUST COME TRUE
June 1st, 2009
BY PAUL COCHRANE
WITH a quarter of the world's reserves the Kingdom of Saudi Arabia is the most influential member of OPEC and able to put an extra two million barrels of oil on the international markets within days. But the kingdom is notoriously opaque about its oil policy and reserves, with decisions made at the highest level by the ruling House of Saud. It is an elite that even the White House appears to have minimal influence over, and one that is keen to ensure its own survival in the face of growing domestic political concerns and a changing geopolitical ...
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