NEW-LOOK SAUDI OIL POLICY ENVISAGES MORE FLEXIBLE PRICE APPROACH

MEES Executive Editor Ian Seymour Reports on Saudi Arabia's New-Style Oil Policy

Though the dominant objective of Saudi oil policy - the defense of prices and the stabilization of the market - remains the same, there has been a very significant change in the Kingdom's tactical approach on the oil front. In essence, the traditional Saudi policy of rigid adherence to official OPEC prices, which in the current climate of...