You are hereHome SectorsAlgeria
Saudi Arabia, others in OPEC willing, able to replace Libyan oil
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu February 24, 2011 2:54 pm

SAUDI ARABIA. Saudi Arabia and other OPEC nations including those in West Africa are willing and able to replace any lost Libyan oil, including crude of the same quality, a Saudi Arabian oil official told Bloomberg by telephone today.

Brent North Sea crude, which is more sensitive to Middle East unrest because of Europe's greater dependence on oil from the region, climbed US$1.41 cents to US$112.66 per barrel, its highest since August 2008.

New York's main contract, light sweet crude, gained 93 cents to reach US$98.93 after breaching the US$100 mark late Wednesday.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 23, 2014
UAE. Deflationary reading of data endangers risky assets; Global cues drive GCC markets; Growth scare unsettles investors; Extreme bearishness on oil may be overdone.
date:Posted: October 23, 2014
SAUDI ARABIA. The 2014 study - which outlines the top priorities that concern young Saudis - is key to helping policymakers and business leaders design initiatives targeted at improving the lives of the Kingdom's current and future generations.
date:Posted: October 22, 2014
UAE. 47% of Middle Eastern respondents indicated that they are considering a proactive shareholder engagement policy which can open and sustain a productive dialogue with investors.
dhgate