FT Alphaville » How will the world live with $100 oil?

For the long haul, that is.

So, Saudi Arabia is now effectively targeting $100/barrel crude oil, instead of the $70 – $80 price range of the past several years. This is significant because Saudi Arabia is the only country that can (in theory at least) ramp up its oil production quickly if prices spike (say, in the event of an Iran-related affair).

Saudi oil minister, Ali al-Naimi:

* username: rupertbu

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