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Article: Nazer: self-interest dictates need for 'reciprocal security' in oil market. (Excerpts from an address by Hisham Nazer, Saudi Arabian oil minister at the Harvard Business School) (transcript)
- Article from:
- The Oil Daily
- Article date:
- May 9, 1991
CopyrightCOPYRIGHT 1991 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nazer: Self-Interest Dictates Need for 'Reciprocal Security' in Oil Market
As owners of at least a quarter of the world's oil reserves, we have to take the long term view, for Saudi Arabia will be producing oil when many other fields would have gone dry. Short-term aberrations in the oil market will spring forth every now and then. One has to be flexible and efficient enough to meet them head on. Saudi Arabia is not distracted by them to lose sight of the long term goal of market stability and a comprehensive integration of the oil industry.
The most recent crisis in the Gulf did not create a crisis in the oil market. This was in large measure because ...