Saudi Arabia Says Oil Market in Balance

- February 21st, 2011

Bloomberg reports that Saudi Arabia feels that oil inventories are plenty and market supply and demand is balanced as well.

Bloomberg reports that Saudi Arabia feels that oil inventories are plenty and market supply and demand is balanced as well.

The market news is quoted as saying:

Oil prices have soared this month as political unrest spread across North Africa and parts of the Middle East. Asked about the latest violence in Libya, the Saudi prince said: “We wish to see things there back to normal.”

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