Speculations, high fuel taxes, and increased oil consumption of developing economy this are the reasons for high oil prices according to King Abdullah of Saudi Arabia and not low oil production. But the King also promises to increase production if needed. They are willing to increase their output by 9.7 million barrels per day in July according to the emergency energy summit in Jeddah. More news in this video:
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Monday, June 23, 2008
Reasons for high oil prices.....
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