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Shockwaves from Saudi's crude statistics

Source: Financial Times, 19th April 2011

Saudi Arabia is seriously trying to talk down the oil market. But in doing so, it is setting the stage for another oil price rally. Ali Naimi, the kingdom's oil minister, has revealed that Saudi Arabia sharply reduced sharply its oil production last month - by a hefty 800,000 barrels a day - because of lack of demand.



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