So I go outside and pick up my paper this mornings and well, it seems there is a difference of opinion…
The Wall St. Journal ran the headline “Saudi’s Rebuff Bush on Oil” saying the Kingdom refused to increase oil production.
The Financial Times ran the headline “Saudi’s Bow to Oil Pressure” and said the Saudi’s agreed to increase production 300,000 bpd to the highest levels in two years…
Anyone know what actually happened???????????
Disclosure (“none” means no position):Long oil (USO)
One reply on “Bush and Saudi’s: What Actually Happened?”
I think the Saudi’s increased production by 300k a few days before Bush arrived. Bush asked for 1,000,000 barrel increase, and was told they haven’t been unable to meet any requests from their customers.