2008-07-19 10:29:30 - Cornerstone Worldwide analysts cite OPEC members' irritation at Saudi Arabia's pledge

Boutique asset management company, Cornerstone Worldwide have suggested that recent Saudi pledges to increase oil production by 200,000 barrels of per day have been met with derision from other members of the oil cartel. Sources within Cornerstone Worldwide claim that some members have even threatened to reduce output in protest. Cornerstone Worldwide believe that oil will breach $150 per barrel

by the end of August 2008 and the anonymous source revealed that further Saudi promises would meet with similar reaction from other OPEC members.

Boutique asset management company, Cornerstone Worldwide have suggested that recent Saudi pledges to increase oil production by 200,000 barrels of per day have been met with derision from other members of the oil cartel. Sources within Cornerstone Worldwide claim that some members have even threatened to reduce output in protest. Cornerstone Worldwide believe that oil will breach $150 per barrel by the end of August 2008 and the anonymous source revealed that further Saudi promises would meet with similar reaction from other OPEC members.