Saudi oil policy combines stability with strength, looks for diversity

This article is based on an address in October 1999 in Houston by the author to the Houston Forum.High reserves and low production costs continue to anchor Saudi Arabia's oil policy. But these assets bring with them a strong national dependence on oil income. Ali I. al-Naimi, Saudi Arabia's minister of petroleum and mineral resources.Click here to enlarge imageSaudi Arabia fully realizes its dependence on oil and is striving to increase its oil income by working in cooperation with other producer nations to maintain what it considers fair oil prices and production levels. The nation is also focusing on full utilization of all its hydrocarbon resources. This is why Saudi Arabia ha...

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