Saudi Arabia’s Oil Minister al-Naimi. Photo Credit: Reuters/Leonhard Foeger
If OPEC is eventually forced to trim its oil exports in response to the shale boom, Saudi Arabia will have to shoulder most of the production cuts.
Past experience suggests Saudi Arabia would have to absorb about two-thirds of any cutbacks even though it accounts for only one-third of the organisation’s exports. Riyadh’s views about the acceptability of current prices, and whether to cut…Middle East,lower oil,oil,oil exports,oil production,OPEC,Petroleum politics,Saudi Arabia,Reuters Comment
Published Date : May 31, 2013, 6:54 PM EDT