Wednesday, February 9, 2011

Saudi oil reserves overstated by 40 pc: WikiLeaks

Manorama Online | Saudi oil reserves overstated by 40 pc: WikiLeaks: "The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent an oil price spike, American diplomatic cables published by WikiLeaks said.

The cables, published in the Guardian newspaper, ask Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300 billion barrels, nearly 40 per cent."

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