The reasons for Saudi Arabia's shift of its target price for oil to $100/bbl from $70-$80 mostly...

|By:, SA News Editor

The reasons for Saudi Arabia's shift of its target price for oil to $100/bbl from $70-$80 mostly boil down to the growing oil export revenue needed by the OPEC states to placate their citizens in the wake of the Arab Spring, FT says. There's concern about overwhelming any global economic recovery, but there’s also the question of Saudi’s ability to impose its will on OPEC, plus the Iranian wild card.