ASSESSMENTS

Saudi Arabia: Expanding Surplus, Falling Oil Prices and Riyadh's Sway

Nov 7, 2008 | 21:01 GMT

BILAL QABALAN/AFP/Getty Images

Summary

In spite of the falling price of crude oil, the Saudis are working on an ambitious investment project to expand their oil production capacity to 12.5 million barrels per day in 2009. The plan serves Riyadh's strategic objective of upholding the kingdom's geopolitical primacy in the global energy markets.

Saudi Arabia's bid to expand oil production at a time of falling energy prices represents a bid to continue its dominance in global energy markets....

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