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Keyword: saudisummit

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  • Why Saudi Arabia's King Wants to Dampen Oil Prices

    06/21/2008 9:39:31 PM PDT · by TigerLikesRooster · 57 replies · 290+ views
    Der Spiegel ^ | 06/1708 | Bernhard Zand
    Why Saudi Arabia's King Wants to Dampen Oil Prices By Bernhard Zand Consumers aren't the only ones being hit by high oil prices. Now that the oil shock has reached producing countries, Saudi Arabia has called a crisis summit this weekend in an effort to find concerted solutions that could push barrel prices down. Others would be overjoyed to be earning a $1 billion a day, and to have good reason to expect that number to climb to $2 billion a day next year. But Abdullah bin Abdulaziz al-Saud seems less than thrilled these days, and the newly tense atmosphere...