January 16, 2012
Gulf Confrontation Stretches Saudi Oil Output to the Max
Editors, United Press International
Saudi Arabia, the world's leading oil exporter, has for decades used spare production capacity to cover shortfalls in output by other oil states and prevent prices spiraling in times of crisis. But questions are being asked now whether the kingdom will be able to come to the rescue if Iran blocks Persian Gulf exports -- at least one fifth of the world total -- in its current confrontation with the West. . .
TAGGED: oil prices, energy security, global oil market, foreign oil, Saudi Arabia, United Press International