Middle East Economic Survey

VOL. LII

No 22

1-Jun-2009

Naimi Says Investment Needed To Avoid Price Spike

Crude oil producers must continue to invest in upstream and downstream projects in spite of the global economic slowdown in order to avoid a spike in oil prices in the years ahead, Saudi Arabias Minister of Petroleum and Mineral Resources Ali Naimi told the gathering of G8 Energy Ministers in Rome on 24-25 May. Commenting on Saudi Arabias own program to continue with the development of its...