SOME RELIEF FROM INCREASING OIL PRICES? 2

Posted by on June 16th, 2008 at 11:01pm

Financial Trend Blog wrote an interesting post today on
Here’s a quick excerpt
SOME RELIEF FROM INCREASING OIL PRICES? 2 An article in the New York Times (14 June 2008) reported that Saudi Arabia, the world’s largest oil exporter and the US’ second largest source of crude, announced that it was increasing its production level by 500,000 barrels per day. This move of Saudi Arabia is not entirely a response to the economic problems of countries reeling from the high prices of oil. Even as oil exporting countries are already riding the crest of record profits from oil, this

Read the rest of this great post here

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