Feb 9, 2011

Saudis 'overstated oil reserves'



THE US fears Saudi Arabia may not have enough oil reserves to prevent prices rising sharply, according to leaked cables.
The cables from the US embassy in Riyadh, obtained by WikiLeaks, urge Washington to take heed of a warning from a former Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 40 per cent.
Source: News.com.au

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