Thursday, January 15, 2009
Saudis see up to 45 percent drop in oil demand
The Saudi Oil
Ministry adviser, Majid Al Munif, told a conference on Jan. 7 that oil
consumption could drop by a minimum of 23 percent, Middle East Newsline reported.
But Al Munif, an adviser to Saudi Oil Minister Ali Al Naimi, urged the
continuation of investment in the energy sector. He said such investments
would ensure the maintenance of oil supplies.
In December 2008, Riyad pledged to continue
to invest in energy projects but warned that other countries must also