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U.S. Reliance on Saudi Oil Is Growing Again

New York Times Original article ›

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LyrArc Article Gist
U.S. oil imports from Saudi Arabia increased by about 20% in 2012, increasing dependence on the volatile Middle East region.

A coordinated effort between the U.S. and Saudi Arabia to reduce the impact of disruptions in Iranian oil supplies in 2012-2013

04/12/2012

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Oil prices in 2012 expected to be above $100 with higher social spending by Arab countries and threats by Iran

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Forecasts in Dec. 2011 show oil prices remaining above $100 a barrel in 2012. The threat of Iranian retaliation for increased sanctions in the Straits of Hormuz have embedded a $10-$20 premium in oil prices say some experts. Saudia Arabia and other oil states have increased social spending after the democracy protests in the Arab world, and would like to see higher prices to support this spending.

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Social unrest in the Middle East and the price of oil

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The impact of larger social spending in Saudi Arabia and other Arab countries on the price of oil.

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Fall in Oil Prices Poses a Problem for Russia, Iraq and Others

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