[asa] Saudi oil

I note today (New York Times) that the Saudis have announced plans to
increase oil production by 0.5 MB (million barrels) to a total of 10
MB and that they also plan to raise thatto 12.5 MB next year.

Seems as if they are concerned about alternative sources.

The article says that 0.5 MB is about 1% of global consumption. It
also questions whether (or not) the Saudis can ramp up that fast or
sustain that level if they do.

Burgy

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Received on Sat Jun 14 11:22:15 2008