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Saudis Want Boost In Oil Stocks Ahead Of Opec Cuts (moved from ATSNN)

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posted on Dec, 8 2004 @ 09:29 PM
"The winter is coming, our [oil price] band is still $22-$28 [a barrel, well below current prices], so why should we do anything?" Mr Naimi, Saudi Arabia's oil minister said before tomorrows meeting of Oil Ministers in Cairo.
Although the report showed weekly US imports were at their second highest level on record, this was overshadowed by a lower than expected inventory rise for petroleum and distillates, which includes diesel and heating oil. The report largely reversed the earlier oil price fall projections.
Saudi Arabia, the most powerful member of the Organisation of the Petroleum ExportingCountries, said yesterday thatglobal oil stocks needed to increase before Opec would have to cut production, a stance that puts it at odds with most of its fellow oil cartel members.

Please visit the link provided for the complete story.

So here we have prrof positive that our Saudi "friends" do nothing but align themselves to line their pockets even more. While I understand that business is business, the USA which has on more than one occasion defended, and perhaps even SAVED Saudi interests, is being manipulated.
A country who claims to have the USA interests at heart, breeds, and harbors terrorists. They spy on our country. They hold out their hands, yet do not reciprocate in any fashion, with the excption of "staged international dipomacy" acts.

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