Middle East Economic Survey

VOL. LIII

No 29

19-Jul-2010

SAUDI ARABIA

Saudi Government Studies Crackdown On Oil Smuggling

The Saudi Arabian government is studying ways of cracking down on oil smuggling, MEES learns. Details are sketchy but there is a significant illegal trade in oil products, mainly diesel and gasoline and even crude. Volumes are believed to be around 100,000 b/d or more. Subsidies, which have created substantial discrepancy in prices across the region, are believed to the prime...