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Posts Tagged ‘ Saudi Oil Increase ’

Iraq Slams Bush Claim that Saudi Increase Will Lower Oil Prices

May 18th, 2008 | By Contrarian Profits | Category: Featured, Financial News

The Iraqi minister for oil has slammed President Bush’s claim that the recent decision by Saudi Arabia to increase oil production will help lower the price of crude oil.

This from Bloomberg:

The oil market is “well supplied,” and prices are being driven by “speculative flows” and not supply and demand, [the Iraqi oil minister] said today in an interview in Sharm el-Sheikh, Egypt, at the annual World Economic Forum.

Tags: bush, Crude Oil, Crude Oil Prices, Iraq, Iraq Oil Production, Oil Prices, peak oil, Saudi Arabia Oil Production, Saudi Oil Increase
Posted in Featured, Financial News | Comments2008-05-18+19%3A23%3A17Contrarian+Profits

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