World Clock

Thursday, 24 February 2011

Saudi Arabia Provides Reason for Optimism

Fears of instability in the worlds dominant oil producing country Saudi Arabia have been eased in the last 24 hours.

The first was the scenes of jubilation that marked the return of King Abdullah's return home yesterday after the king spent three months abroad undergoing medical treatment.


Saudi Flags line the streets of the capital Riyadh alongside pictures of King Abdullah Bin Abdul Aziz to mark his return home yesterday (23/02)

Also this morning (24/02) Saudi Arabia has announced that it is in active talks with European oil companies to increase crude oil supply. This is to offset the production slowdown in Libya as a result of increasing political and social unrest. These reports were given substance as the source was the FT.

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