VOL. XLIV

No. 20

14-May-2001

SAUDI ARABIA

Naimi On NYMEX And IPE Crude Contracts

Saudi Oil Minister Ali al-Naimi, in a speech in New York on 7 May on the occasion of his receipt of NYMEXs Award For Global Vision In Energy, spoke of how the exchange had "grown into an indispensable tool, facilitating the day-to-day operations of the oil industry. It, along with the IPE Brent contract, is the major barometer of price pressures in world oil markets." According to NYMEX statistics, during 2000 an...