Middle East Economic Survey

VOL. XLIX

No 13

27-March-2006

OIL PRICES/SAUDI ARABIA

Naimi Sees No Harm To Global Economic Growth From Oil Prices

Saudi Oil Minister Ali Naimi said on 19 March that present oil prices were not harming global economic growth and he was not concerned about the build-up of US oil stocks. I believe in these somewhat tense and uncertain times it is only logical for consuming countries to build stocks, Mr Naimi said at a news conference. In normal situations, very high stocks...