Middle East Economic Survey


No 9


Saudi Arabia Does Not See Forward Oil Cover Above 52 Days In 2Q, Says Naimi

Saudi Arabia does not expect commercial oil stocks for OECD countries to rise above the equivalent of 52 days forward cover in the second quarter, Saudi Oil Minister Ali Naimi said on 21 February. In a joint press conference in Riyadh with his visiting Norwegian counterpart Thorhild Widvey, Mr Naimi said that present commercial stocks were equivalent to 51 days...