Even if Saudi Arabia was aware of the IEA’s move to draw from its oil reserves, all parties appear to have lost face, without really upsetting the trend of stubbornly high oil prices. Goldman says buy the oil dip.
The International Energy Agency (IEA) followed through on its threat of releasing oil supplies into the global markets, after OPEC had failed to raise output in its last meeting in early June. READ MORE HERE
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Middle East oil makes the world go round
EIA Vs OPEC: A Goallless Draw?
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MENA Business Feed From Zawya
- Saudi Cement Says Mulls New Production Line In RabighSaudi Cement Co., the kingdom's second-largest cement producer, said it is mulling plans to set up a new production line at its factory at Rabigh industrial city to meet growing domestic demand. […]
- Saudi Cable Co Says Will Distribute Dividend Of SAR0.38/ShrSaudi Cable Co. said it would distribute a dividend of 0.38 Saudi riyals ($0.10) a share to stockholders for 2010 in a first installment. […]
- Dubai World Appoints MD, CFO; To Transfer RE Units To GovtDubai World said it had appointed two new senior managers to help run the government-owned conglomerate's day-to-day business and had signed agreements towards transferring ownership of real-estate units Nakheel and Limitless to the government. […]
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