12.08.2014 - MidEast Watch:Saudi Bank Raises '14 Oil Price,Output Forecasts
A Saudi investment bank has increased its forecasts for both oil prices and the amount of oil Saudi Arabia pumps out in 2014, citing events around the world that are keeping prices high, supply disruptions to other key producers, and a faster than expected rebound in the U.S. economy. The report by Jadwa Investment does caution that higher crude production by the oil market heavyweight will erode the amount of spare production capacity available to counter new threats to global oil supply. The bank said its expects the Gulf kingdom to use part of its windfall from higher oil prices to add to its foreign asset holdings by more than $45 billion over the whole of 2014..........................................Full Article: Source
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