VOL. XXXII

NO. 7

21-NOVEMBER-1988

SAUDI ARABIA

Saudi Arabia Denies Causing Price Fall

The Saudis have taken exception to two Reuter reports from Abu Dhabiasserting that Saudi Arabia is responsible for the decline in oil prices andthat it is considering a devaluation of its currency to counteract the domesticeffects of falling oil revenues.

In a report on 12 November the Saudi Press Agency (SPA) cited an"official source" as saying that the reports are "dishonest"and "based neither on truth or...