Three Takes on the Manipulation of Oil Prices. #2

Bahree, Bhushan. 2007. “Saudis to Pare Oil Output Again Amid Market Uncertainty.” Wall Street Journal (30 January): p. A 3.

Mr. Diwan noted Saudi Arabia had opened its oil taps wide when prices were surging, in line with its long-standing policy of tempering markets. Saudi officials had expressed concern when prices soared to record highs last year, for fear that the price surge might trigger a market-killing economic downturn or encourage customers to seek substitute fuels. “The Saudis, they don’t talk a lot, so look at what they do, and that will give you the whole story,” Mr. Diwan said.

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