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Analysis: The MV Sirius Star - Saudi Reaction and Response Saudi Arabia was stunned to learn on November 17 that the MV Sirius Star, a Saudi Aramco oil tanker with a full cargo, had been highjacked by Somali pirates two days before. Though the Foreign Minister said publicly that the Kingdom would not negotiate, he did not deny the fact that ransom talks were underway for its release.
Analysis : The Oil Crisis and Saudi Regional Strategy (part four) As the price of crude has retreated from its summer highs, some argue that the market is simply returning to the price levels of a year ago, which it arguably should never have left. The sudden fall, however, has shattered the hopes of those in the royal family who found strategic advantage in the crisis, and left unresolved the future direction of the Kingdom's oil policy.
Analysis: The Oil Crisis and Saudi Regional Strategy (part three) Saudi Arabia has repeatedly affirmed its committment to an increase in production capacity, yet has been reluctant to take meaningful action to bring down the price of crude, despite its role as swing producer. Are the Saudis faced with declining reserves, and unable to raise production levels, or are short-term geopolitical considerations to blame?