Saturday 23 April 2011

S&P says Saudi unrest could have adverse global impact - ArabianBusiness.com

The global economy could be severely affected if the current wave of political uprisings spread to Saudi Arabia, the world's biggest oil producer, ratings agency Standard's & Poor's said in its GCC Q1 Outlook report.

While S&P analysts said they saw upheaval in the kingdom as "unlikely", they added that the impact would have a "tangible adverse economic impact" on oil importers and the global economy.

Kai Stukenbrock, a credit analyst, said in the report that the oil price "could rise beyond historical peak level" should serious uprisings take hold in Saudi Arabia.

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