VOL. XXXIV

NO. 36

10-JUNE-1991

Saudi Arabia/Iran

Saudi Arabia and Iran Reduce Overseas Storage to Operational RequirementLevels

Both Saudi Arabia and Iran appear to have taken firm policy decisions to cutdown the size of their market-located overseas stocks to what is needed toservice operational requirements, thereby liquidating additional volumes held inoverseas storage for strategic purposes during the Gulf war period.

Saudi Arabia, which at one time held close to 100mn barrels in overseas...