SAUDI ARABIA

Saudi Arabia Aiming for $20/B by Year-End

From remarks made to US congressional leaders and oilmen by Saudi Oil Minister Hisham Nazer during his current visit to the United States, it would seem that over the coming year Saudi Arabia will be seeking a somewhat higher crude price than the prevailing OPEC reference level of $18/B.

After a meeting with Mr. Nazer in Washington on 2 April, Senator David Boren (Democrat, Oklahoma) told reporters that the Saudi Oil Minister had...