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Leaked Cables Reveal Concern Over Saudi Oil Production

12 Feb 2011  |   Damien Shirley

According to cables obtained and published by Wikileaks, American diplomats are concerned that Saudi Arabia might not be able to increase their oil output to keep up with global demand. In addition, there are also concerns that Saudi Arabia's oil reserves may be exaggerated by up to 40%.

According to The New York Times, "[o]ne cable written during the 2008 oil shock, when crude prices spiked to nearly $150 per barrel, warned that Saudi Aramco, the Saudi state oil company, no longer appeared to have the ability to raise production sufficiently to affect global oil prices."

In addition, "[a] 2007 cable relayed warnings from Sadad al-Husseini, a former top exploration engineer and long-serving board member at Aramco, that the company's long-term reserves were likely overstated by as much as 40 percent."

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