OGJ NEWSLETTER

Is the apparent stunning turnabout in Saudi oil policy just a veiled threat of retaliation for proposed global warming carbon taxes? Press reports quoting Saudi officials as saying Saudi Arabia wouldn't be averse to a rise in oil prices jolted the market after OPEC's meeting in Vienna last week. "Saudi Arabia is convinced that an increase of up to $3/bbl will have no effect on economic growth or demand for oil, Associated Press quoted one undisclosed Saudi official as saying.

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