Saudi Arabia vows to ensure adequate oil supply, stabilise market : oil prices dip

21-Mar-12
The Saudi cabinet has vowed to "ensure adequate oil supply, stabilise oil market and bring down oil prices to reasonable levels to both producers, consumers, and the petroleum industry", as per Arab News. This followed a review of the results of last week's international Energy Forum in Kuwait. Saudi assurances come as concerns in the market increase amid sanctions on Iran. As a result, oil prices dipped- Brent North Sea crude for May settled at US$125.3.
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