May 14, 2008
Plus: The Reason Behind HighOil Prices
“Inventories have been building since the beginning of the year. The Saudi Khursaniya field has just opened, with 500,000 barrels a day of production, and the new Khurais field will start next year with a further 1.2 million b/d [barrels a day].”
"...There is substantial evidence that the large amount of speculation in the current market has significantly increased [oil] prices." - U.S. Senate Staff Report, The Role of Market Speculation in Rising Oil ... via BusinessWeek
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