Saudi-US Relations Information Service

Keeping Track - Recently on SUSRIS







Rollover image for info		Rollover image for info

U.S. Reportedly Planning $20B Saudi Arms Deal [Jul 28]
"The Bush administration is preparing a $20 billion arms deal with Saudi Arabia as part of a strategy for countering Iran, according to published press reports. The proposed 10-year package of advanced weaponry would include missile guidance systems, upgraded fighter jets and naval ships. The New York Times says Bush administration officials are concerned that the size of the package and broader concerns about Saudi Arabia's influence in Iraq could prompt critics in Congress to oppose the package. To counter objections from Israel's supporters in Washington, the newspaper said, that country would be offered significantly increased military aid.." [more]

U.S. Has Strong Relations With Saudi Arabia: Spokeswoman [Jul 28]
"The United States has strong relations with Saudi Arabia in the war on terror, White House deputy press secretary Dana Perino said Friday. "We have very strong relations on counter terrorism measures," Perino said. "We have worked very closely with Saudi Arabia." The spokeswoman made the remarks after the New York Times reported Friday that the Bush administration is deeply frustrated with Saudi Arabia over its role in Iraq.. ..U.S. officials have long resisted blaming Saudi Arabia for worsening sectarian strife in Iraq, choosing instead to pin blame on Iran and Syria. Even now, they rarely talk publicly about the role of Saudi fighters among the insurgents in Iraq.." [more]

Saudi Arabia's Sukuk Market Poised to Take Off [Jul 28]
"Saudi Arabia's fledgling sukuk market is beginning to take off, with deals increasing in size and asset pools increasing in sophistication," explains Andrew Coats, partner at City-based international law firm Clifford Chance.. ..acting for the lead arrangers in two current transactions - the stand-alone SR5 billion issuance announced yesterday by Saudi Electric Company (SEC) which matures in 2027; and the second issuance by Saudi Basic Industries Corporation (SABIC) which is in the process of finishing its book-building exercise, before announcing the final value of the issuance. The Capital Market Authority (CMA), however, a few days ago did raise the ceiling cap for domestic sukuk issuances from SR5 billion to SR8 billion. Both issuances are pioneering new asset pools that are being securitized.." [more]

Musharraf Arrives in the Kingdom [Jul 28]
"Pakistani President Pervez Musharraf arrived in Jeddah after a short visit to the United Arab Emirates yesterday. He was received at the King Abdul Aziz International Airport by Makkah Gov. Prince Khaled Al-Faisal, Minister of State Abdullah Zainal, and Pakistan Ambassador to the Kingdom Shahid Karim Ullah. He will perform Umrah, according to the Saudi Press Agency.." [more]

Midyear Results Continue to Buoy Saudi Stocks [Jul 28]
"The Saudi stock market continued to rise last week buoyed by the midyear results of blue chip firms, particularly in the telecommunications and banking sectors. The Tadawul All-Share Index (TASI) gained further 1.76 percent last week, closing at 7,633.54 points up from 7,501.56 points in the previous week. However, TASI is currently 3.78 percent lower than the year’s start.. ..The BFA expected Saudi stocks to score “gradual” gains in the coming weeks against the backdrop of a 20 percent increase in blue chip profits in the second quarter of the year over those of the first quarter.." [more]

U.S.-Saudi Tensions To Increase In 2008 [Jul 27]
"U.S. Secretary of State Condoleezza Rice and Defense Secretary Robert Gates will visit Saudi Arabia's capital Riyadh on July 31. As the United States looks to regional actors for support on Iraq, Iran and Israeli-Palestinian issues, it will find that Riyadh is not going to play its assigned role. While President George W. Bush's administration faces long odds on these issues already, the Saudi position makes the prospect for success even less likely.. ..Such tensions are a normal feature of the Saudi-U.S. relationship and do not necessarily herald a crisis in the making. However, while core relations will not be affected, they will add to the tensions likely to emerge between the countries on Middle East issues and make for an uncomfortable few months in bilateral relations in 2008.." [more]

Enhancing a Culture of Human Rights [Jul 27]
"The human rights report released by the National Society for Human Rights (NSHR) toward the end of May is indicative of the government’s new political direction under Custodian of the Two Holy Mosques King Abdullah, according to a recent Al-Majalla magazine interview with Dr. Bandar ibn Mohammad Al-Hajjar, president of the NSHR. The 67-page NSHR report, which cited violations of the rights of women, prisoners and workers as well as injustices in law courts, discrimination against non-Saudis, can be viewed as major stepping stone in the progression of human rights and freedom of expression in the Kingdom.. ..On the release of the report, the first by a human rights body in Saudi Arabia, Al-Hajjar said that the NSHR plans to enhance and implement a culture of human rights in Saudi Arabia, adding that the organization is less than three years old and has managed to publish its first report opening the door to partnerships with other social establishments.." [more]

Saudi Media Discuss Creation of Second MSI [Jul 27]
"A group of media personnel gathered here this week to discuss the state of the media in the Kingdom. This nongovernmental effort by media people in Saudi Arabia, along with the US-based international organization IREX, aimed at creating the second so-called Media Sustainability Index, or MSI, for Saudi Arabia. The MSI is a survey by IREX regarding the state of press freedom and other issues pertaining to the freedom of information in different regions of the world. In 2005 the survey was created for the MENA (Middle East/North Africa) region.. ..Subjects that were rated included legal protections that encourage freedom of information and expression, journalistic work ethics and the plurality of perspectives offered in the local press. Saudi Arabia’s total score was 2.04 out of four.." [more]

Saudi Earthquake Release US$ 2.0 Million to World Food Programme [ Jul 26]
"Saudi Public Assistance for Pakistan Earthquake Victims has released US$ 2.0 million to World Food Programme for the distribution of flour bags among quake survivors of October 8, 2005 in Azad Kashmir and NWFP Northern Areas.. ..Saudi Public Assistance For Pakistan Earthquake Victims, Ibrahim Homaily said the Saudi Relief Organization was established specially for quake hit survivors to help mitigate their sufferings and in this regard relief in different areas. Recently, the organization has provided 0.7 million US dollar school material to Read Foundation schools. At least 22,000 schools children including girls and boys upto matric level were provided bags, stationery books, two set of uniforms for each student and other essential material used for educational purposes.." [more]

Top Cleric Defends Religious Police in Face of Criticism [Jul 26]
"Saudi Arabia's top cleric yesterday defended the country's powerful religious police in the face of increasing complaints of malpractice and brutality, warning that critics are spreading moral corruption. The excesses of the religious police, known as the Commission for the Propagation of Virtue and the Prevention of Vice - including charges of torture and killing - have stirred a rare backlash in the kingdom.. .."Propagation of Virtue and the Prevention of Vice is a great ritual which God has made one of the traits of the faithful," Shaikh Abdul Aziz Bin Abdullah Bin Al Shaikh, the kingdom's mufti and highest religious authority.. .."Those who call for marginalising it do not mean good. It is corruption because they demand the nation to deviate from the path of God," he said.." [more]

SFD Provides SR 1209.5 Million to Developing Countries [Jul 26]
"The Annual report of The Saudi Fund for Development (SFD) showed that it financed 16 development projects in 12 Asian developing countries with an amount SR 1209.5 Million in 2006, according to Minister of Finance Dr Ibrahim Al-Assaf, who is also Chairman of the Board of Directors of SFD. As part of the SFD message to support development in beneficiary-countries, the financing for projects was allocated to such projects which have positive impact for the poor in beneficiary-countries, thus the financing was distributed among sectors which have high priorities in fighting poverty. "Out of this amount, 47.26% was allocated to transport and telecommunication sectors; 40% assigned for health, education and urban development while the remaining percentage was for agriculture and energy.." [more]

SAGIA Announces 51% Rise in FDI to SR68.6 Billion [Jul 26]
"The Saudi Arabian General Investments Authority (SAGIA) has announced a remarkable increase in the foreign direct investments in the Kingdom over the last three years. 'The volume of foreign investments in 2006 is estimated at SR68.6 billion, a 51 percent growth compared to 2005 while the volume of the domestic investments amounted to about SR125 billion in the same year registering a growth rate of 9 percent against the previous year,' Awad Al-Awad, undersecretary of the SAGIA governor said in press statement yesterday.. ..Observing that the largest portion of the foreign investments were directed to industries of energy and its derivatives in 2006, Awad said 'Taking into account the fact that the Kingdom has the largest and most important economy in the region, it will not be a strange matter if foreign investments flow into the country.'.." [more]

NSHR Investigates Cases of Terminally Ill Prisoners [Jul 26]
"The National Society for Human Rights (NSHR) is investigating reports of sick prisoners in Saudi jails, who — contrary to Saudi law — are being kept in prison and not freed, reported the Al-Eqtisadiah newspaper. The investigation follows news about the death of an Indian cancer patient who recently died while in prison in Riyadh. Farki Matthew, a cancer patient who also had a brain tumor, was arrested last month by police following a car crash. Being unable to pay for damages to another car and and a lamppost, Matthew was imprisoned, where he died.. ..although the society believes that the giving and taking of life is in Allah’s hands, the NSHR cannot comprehend how some organizations fail to understand the sensitivities of cases involving extremely sick prisoners.." [more]

Secretary Rice's Travel to the Middle East [Jul 25]
"Secretary of State Condoleezza Rice will travel to the Middle East from July 30to August 2, 2007. During her stops in Sharm el-Sheikh, Egypt and Jeddah, SaudiArabia, she will be accompanied by Secretary of Defense Robert Gates; the two will meet with their counterparts to discuss the ways in which Iraq's neighbors can help advance the cause of security and stability in that country. While in Sharm el-Sheikh, Secretary Rice will meet with the Foreign Ministers of the Gulf Cooperation Council countries, Egypt, and Jordan to consult on regional issues. Secretary Rice also will travel to Jerusalem and Ramallah for meetings with Israeli and Palestinian officials.." [more]

King to Visit Britain [Jul 25]
"In response to an invitation from Her Majesty Queen Elizabeth II of Great Britain, the Custodian of the Two Holy Mosques King Abdullah Bin Abdul Aziz will pay an official three-day visit to the United Kingdom in the fall. The visit will commence on October 30 and aims at discussion of issues pertaining to bilateral relations as well as a number of regional and international issues. Saudi Arabia and the UK have had a long relationship that today has matured into one of mutual respect and vigorous trading. Saudi Arabia is the UK's biggest trading partner in the Middle East and the Kingdom rates as the UK's 25th largest importer.." [more]

Saudi Releases 2 Reformers [Jul 25]
"Saudi Arabia said it had freed two prominent reformers on bail while a US human rights watchdog on Tuesday condemned the detentions of the activists. Human Rights Watch identified the two as Abdullah Al Hamid, a lawyer, and his brother, Isa Al Hamid and said they were arrested on July 19 along with five women who had peacefully demonstrated for a speedy trial for their imprisoned relatives. The protest took place three days earlier outside a jail in the town of Buraida. One of the imprisoned was Abdullah Al Hamid's client.." [more]

Saudi Arabia: Hold Religious Police Accountable for Killing [Jul 25]
"Saudi authorities should hold religious police accountable for their fatal beating of a 28-year-old man in Riyadh on May 23, 2007, Human Rights Watch said today. Despite eyewitness testimony that four religious police officers fatally beat Salman al-Huraisi, criminal investigators are charging only one volunteer officer in the incident. Meanwhile, Saudi officials have attempted to downplay the religious police’s responsibility for the death, and police are harassing the victim’s family. Al-Huraisi is the second person since May to die in the custody of religious police after a beating. 'The Saudi authorities should ensure that all those responsible for beating Salman al-Huraisi to death are held accountable,' said Sarah Leah Whitson, Middle East director at Human Rights Watch.." [more]

International Forum to Focus on Saudi Seaports [Jul 25]
"An international forum on maritime transportation to be participated in by neighboring countries and international organizations is being organized by The Chamber of Commerce and Industry in Jeddah for next month. The forum aims to publicize how Saudi seaports adhere to the highest environmental standards, and to open opportunities for investments in the Kingdom. 'We will raise the status of seaports in Saudi Arabia by discussing the operations of maritime piracy and various concerns like wages, services and procedures'.. ..The Saudi seaports are distinctive for their strategic locations.." [more]

Iraq, Saudi Arabia Advance to Final [Jul 25]
"Iraq moved into its first Asian Cup final, beating South Korea 4-3 on penalty kicks Wednesday night after a 0-0 tie. At least 50 fans were killed by car bombs during postgame celebrations in Baghdad. Iraq advanced to Sunday's final in Jakarta against Saudi Arabia, which beat two-time defending champion Japan 3-2 in Hanoi. The winner of the tournament joins the United States, Brazil, Italy and host South Africa at the 2009 FIFA Confederations Cup along with the champions of Europe, Africa and Oceania..' [more]

Saudi Stocks Heading for 10-15 Percent Growth [Jul 25]
"The Saudi stock market is heading for steady gains after suffering massive losses in 2006. The Tadawul All-Share Index (TASI) dropped by 52.53 percent to 7,933.29 points last year. The market capitalization also dropped 49.72 percent to SR1,225.86 billion ($326.9 billion) in 2006. The TASI, however, gained 133.75 points or 1.8 percent to 7,570.42 yesterday with market turnover of around SR7.76 billion. According to a report by the Riyadh-based Jadwa Investment released yesterday, the macroeconomic and stock market conditions are in place for steady gains in share prices on the Saudi stock market.." [more]

Saudi Arabia to Inject Funds Into ITFC [Jul 24]
"Saudi Arabia will infuse the Islamic Trade Financing Corporation (ITFC) with SR112.5 million ($30 million). The money will come from the General Investment Fund. Culture and Information Minister Iyad Madani made this announcement yesterday after the weekly Cabinet meeting chaired by Custodian of the Two Holy Mosques King Abdullah at Al-Salam Palace in Jeddah. ITFC, a recently established subsidiary of the Islamic Development Bank (IDB) group, aims to develop export and import markets among IDB member states. The ITFC has $3 billion in capital. IDB controls a majority stake in the ITFC.." [more]

Japan Brace for Saudi Assault [Jul 24]
"Japan coach Ivica Osim has warned that the defending champions will face an unknown quantity when they clash with long-time rivals Saudi Arabia in their Asian Cup semi-final on Wednesday. Both teams are looking for a record fourth continental title with Japan beating the Saudis 3-1 at home in their last meeting in November to avenge a 1-0 loss away two months earlier.. ..Saudi Arabia, who last won the title in 1996 but failed to reach the knockout stage in 2004 for the first time in two decades, have shown solid form through the tournament, whipping Uzebekistan 2-1 in the quarter-finals.." [more]

Girls of Riyadh Spurs Rush of Saudi Novels [Jul 24]
"Saudi Arabia has seen a literary explosion in the last two years after the success of Girls of Riyadh, a
taboo-breaking novel that this month went on sale worldwide in English.Rajaa Alsanea's insight into the closed world of Saudi women and their disappointments in love caused a storm in the Islamic state where the Beirut-published book was at first banned, although it is now available. But strikingly, Saudi Arabia's literary output doubled in 2006, with half of the authors women, and publishing industry insiders suggest the growing interest is partly due to Alsanea's book.." [more]

Gulf Marts Mixed; Saudi Index Rises [Jul 24]
"Gulf shares closed mixed yesterday with Saudi, the region’s largest market, leading the risers and Abu Dhabi the decliners.. ..Saudi shares closed up 0.6% at 7435.28 after falling during early trade. Heavyweight Sabic, up 0.4% at 126 riyals, helped the index rise. Telecom stocks also bolstered gains. There was some value buying with the market closing above 7424, its 10-day moving average, said a Saudi market analyst.." [more]

Alfaisal University Signs Pact With MIT, KACST [Jun 24]
"Alfaisal University has signed a three-way agreement with the Massachusetts Institute of Technology (MIT) and the King Abdul Aziz City for Science and Technology (KACST) to conduct research in water, biotechnology and other areas of interest to the Kingdom. Dr. Alan Goodridge, acting president of Alfaisal University, said the university has also concluded a Memorandum of Understanding (MoU) with MIT on an open courseware system. This would enable the university to conduct onsite and distance learning programs for Saudis and expatriate students to pursue higher education in science, medicine, business technology and engineering.." [more]

Aramco Resumes Operations After Fire [Jul 23]
"State oil company Saudi Aramco announced on Monday that operations from a fire damaged pier at their export oil terminal had resumed. Four people died and a durther 12 were injured as a result of the fire on Thursday at the world’s largest offshore oil export terminal. 'The Ras Tanura North Pier is back in operation, but the two berths affected by the fire are currently not in service,'.." [more]

Global Industries Awarded Berri & Qatif Projects by Saudi Aramco [Jul 23]
" Global Industries, Ltd. announced today that its subsidiary Global Al Rushaid Offshore Company, Ltd. has signed a contract with Saudi Aramco for the Berri Water Injection and Qatif Crude Offshore Pipelines Projects. The work will be performed in the Qatif and Berri Fields off the Eastern coast of Saudi Arabia.. ..B.K. Chin, Chairman and Chief Executive Officer, stated: 'This project award represents a significant step for Global as we position ourselves as a major player in the Middle East, a crucial oil and gas market. We look forward to working for Saudi Aramco on this project and many more in the future.'.." [more]

Opec Ready to Pump More Oil [Jul 23]
"Opec is concerned about the potential impact of the near-record price of oil on the world economy but has seen little sign that growth has been hit by higher energy costs, the group's president said yesterday. The Organisation of Petroleum Exporting Countries stands ready to pump more oil if needed, but it is not clear whether the group will need to boost output before the end of the year, said Opec President and UAE Energy Minister Mohammad Bin Dha'en Al Hamili.." [more]

Saudi Arabian Airlines Reportedly in Talks to Buy Dreamliner 787 [Jul 23]
"State-owned Saudi Arabian Airlines is in talks with Boeing Co. (BA : Boeing Co. to buy its 787 Dreamliner, Riyadh-based Arab News reported Monday citing a Boeing official. Ahmed Jazzar, Boeing's president in Saudi Arabia, was quoted as saying that the Chicago-based Boeing is also eyeing investment opportunities in the kingdom's six economic cities. Boeing signed a memorandum of understanding with the Saudi Arabian General Investment Authority in May for partnership and cooperation in the aviation sector.." [more]

Change in Financial Culture Bodes Well for Kingdom [Jul 23]
"Recent changes in the Saudi Arabia’s financial culture bode well for the development of the investment market. The GCC (Gulf Cooperation Council) region is changing rapidly, adding to its traditional reliance of commodities — particularly oil — financial trading and investment. Saudi Arabia in particular, with over 70 percent of the GCC population and 70 percent of the wealth, is in the view of Christian R. Mouchbahani, CEO of Jeffries Investment Bank in the Middle East and North Africa (MENA), a key area in the region and one that offers tremendous potential for growth. In his view the challenge developing the markets in the Kingdom is something of a groundbreaking exercise and one with tremendous potential.." [more]

Saudi Television Station Mecca to Launch Russian-Language Channel [Jul 23]
"The establishment of a Russian language channel within the Saudi Arabian television company Mecca was discussed at a meeting between Mecca television channel Chairman Al Auid Assam Salah and Russian Council of Muftis head Ravil Gainutdin in Moscow. The council's official website said the new channel is supposed to broadcast for the Russian-speaking population of Russia, Ukraine, Kazakhstan, Kyrgyzstan, Tajikistan, Georgia, Armenia, and the Baltic states. The channel plans to open subsidiaries in these countries later.. ..The channel's programs will include those aimed at preventing the circulation of extremist ideas within the Islamic environment.." [more]

Saudi Shares Drive Regional Markets Lower [Jul 23]
"Shares in Saudi Arabia, the largest Gulf market, led all other regional bourses lower yesterday with investors preferring to encash recent gains on earnings. Many stocks had run up ahead of the earnings season beginning July and investors are booking profit now.. ..Shares in Saudi Arabia, the worst performing Gulf market, ended down 1.5% at 7,391.9, led by losses in index heavyweight Saudi Basic Industries Corp. The share closed down 1.8% at 125.50 riyals. There was some late selling in banking and telecom shares that added to the weakness, said a trader. The market fell below its 10-day moving average of 7431 and that could indicate further weakness, but Sabic is still trading above its 10-day moving average of 125 riyals.." [more]

No Plans to Back Off Saudization Demands [Jul 23]
"Saudi Arabia is not considering reducing the quota set for employment of Saudi nationals in the commercial sector, a statement from the Labor Ministry said yesterday.. ..Some employers have complained that it is difficult to meet the government’s quotas because of a lack of skilled citizens for high-end jobs or difficulties in recruiting Saudis for low-skilled jobs that foreigners are willing to do for much less money. Generally speaking, the more the sector requires technical expertise by workers with advanced degrees, the lower the Saudization quota. The minister said that his ministry would “act firmly” in seeing that establishments implement the directive. He said that commercial establishments had already been given three years to train Saudi workers to replace foreigners in several sectors.." [more]

New Cities to Create 2.1m Jobs [Jul 23]
"The new industrial cities being built in Tabuk, Hail, Eastern Province, Madinah, Rabigh and Jizan will create a total of 2.1 million job opportunities over the period between 2010 and 2020.. ..While presenting a paper in a seminar organized by the Riyadh Chamber of Commerce and Industry recently, Abdul Wahid said: 'Out of a total of 1.3 million new permanent jobs in these cities, 170,000 jobs would require skilled workers, 675,000 would be for semi-skilled and 455,000 would need only a low level of skill.'.." [more]

Another Try on Mideast [Jul 22]
"Secretary of State Condoleezza Rice will chair a peace-seeking conference on the Middle East this fall - time, place, participants and agenda to be announced. It's supposed to help put the Palestinians on the road to statehood. But there are caution signs everywhere. Tying his government to the United States and its allies may appeal to Palestinian President Mahmoud Abbas as a way to get traction on the way to a state, at least in the West Bank, but Palestinians overwhelmingly loathe the United States and many still support "martyrdom" attacks against Israelis.." [more]

Want to Understand Islam? [Jul 22]
"Nearly half of Americans have a generally unfavorable view of Islam, according to a 2006 Washington Post-ABC News poll, a number has risen since the Sept. 11, 2001, terrorist attacks. That climate makes it easy to lose sight of the fact that the majority of mainstream Muslims hate terrorism and violence as much as we do -- and makes it hard for non-Muslims to know where to begin to try to understand a great world faith. Like Judaism and Christianity, Islam originated in the Middle East. As F.E. Peters shows in "The Children of Abraham," the commonalities can be striking. Muslims worship the God of Abraham, as do Christians and Jews. Islam was seen as a continuation of the Abrahamic faith tradition, not a totally new religion.. ..The Gallup World Poll's helpful section on the Muslim world
www.muslimwestfacts.com sheds some light on the views and aspirations of more than 1 billion Muslims.." [more]

Fire at Oil Terminal Under Maintenance Kills Four [Jul 22]
"State oil firm Saudi Aramco said yesterday four people died at a fire which did not affect crude and oil product exports from the world's largest offshore oil export facility. A statement said two Filipinos, an Indian and a Sri Lankan died in the incident at Ras Tanura, all workers with a maintenance firm used at the site. Twelve were injured, including one Saudi official from Aramco and 11 workers from India, Sri Lanka and Bangladesh. It said the fire was brought under control within an hour after it erupted on Thursday morning.." [more]

King Bails Out Makkah Daily With SR10 Million [Jul 22]
"A 49-year-old Makkah institution was bailed out of financial troubles with a SR10 million cash infusion from Custodian of the Two Holy Mosques King Abdullah’s personal account yesterday. Al-Nadwa, which has chronicled the daily life of Islam’s holiest city in modern times, has been unable to meet payroll for the past three months.. ..“King Abdullah ordered the payment of the amount to the Al-Nadwa newspaper from his personal account to help it overcome its current financial crisis,” said Culture and Information Minister Iyad Madani in a statement to the Saudi Press Agency.The culture and information minister said that the kind gesture is proof of the king’s support for the Kingdom’s media. Madani added that he hopes the newspaper will regain its glory and competitiveness through the king’s donation.." [more]

Saudis Down Uzbeks In Quarter-Final [Jul 22]
"Saudi Arabia became the fourth team to reach the semi-finals of the Asian Cup after an exciting 2-1 victory over Uzbekistan in Jakarta on Sunday. Goals in each half gave the Sons of the Desert a two goal lead but the Central Asians never gave up and ensured a tense quarter-final finale with a goal with ten minutes remaining.." [more]

OPEC Research Head: Fair Oil Price $60-$65 [Jul 22]
" A fair price for both oil producers and consumers for a barrel of oil would be around $60 to $65 a barrel, a Kuwaiti state oil newsletter quoted the head of OPEC's research division as saying. 'A price of $60 to $65 is appropriate for consumers and producers, because it boosts means of investment in the oil industry in light of growing demand for oil in the coming years,' state firm Kuwait Petroleum Corporation's (KOC) monthly newsletter quoted Hasan Qabazard as saying. 'OPEC seeks to supply markets sufficiently at proper prices'.. ..The price of OPEC's reference crude oil basket stood at $73.23 on Thursday.." [more]

The SUSRIS project -- an independent, private-sector information resource - offers objective, comprehensive news and information on the history, breadth and depth of the US-Saudi Arabia relationship.
< Read More About SUSRIS >