Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said.
U.S. Secretary of State Hillary Rodham Clinton made clear Saturday that time is running out for diplomacy over Iran’s nuclear program and said talks aimed at preventing Tehran from acquiring a nuclear weapon would resume in mid-April.
Over the last two-and-a-half decades, a series of NASA’s Landsat satellites have captured these pictures of the growing agriculture industry in the northern reaches of the Syrian Desert in Saudi Arabia, not far from Jordan.
People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if bureaucrats will simply stop blocking development.
In an op-ed in the Financial Times, Ali Al Naimi writes, “High international oil prices are bad news. Bad for Europe, bad for the US, bad for emerging economies and bad for the world’s poorest nations."
In this clip excerpted with permission from the documentary The Prize: The Epic Quest for Oil, Money and Power based on the book of the same name by Daniel Yergin, the story of Tom Barger’s first journey to Saudi Arabia is related through his movies and letters.