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Wikileaks: US Officials Concerned Saudi Arabia Has Less Oil Than Claimed

Wednesday, February 9, 2011, 9:06 AM
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There has been another Wikileaks release, exposing the US diplomatic channels as being aware of the possibility of Saudi overstatement of reserves and the possibility that future Saudi 'swing production' may be far more limited than believed.

Here's how the Guardian UK put it:

The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.

The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.

(Source

 

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