Middle East Economic Survey

VOL. XLVIII

No 19

9-May-2005

No Crude Oversupply, Says Jubair

There is no global oversupply of crude oil, despite increasing US inventories, Saudi foreign affairs adviser Adel al-Jubeir said on 3 May in a Reuters interview in Washington. Furthermore, Saudi Arabia would allow global oil stocks to build ahead of the winter. “I don’t know that it’s reached that level yet where we’ll worry about oversupply,” Mr Jubeir said....