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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

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UAE. Managing an internationally mobile workforce can be challenging, particularly as home country and host country laws can be vastly different; Legal compliance with local laws may mean that it is not possible to impose global policies on the workforce.
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UAE. Managing an internationally mobile workforce can be challenging, particularly as home country and host country laws can be vastly different; Legal compliance with local laws may mean that it is not possible to impose global policies on the workforce.
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