COLUMN-Saudi oil policy needs better communications: Kemp
 

(John Kemp is a Reuters market analyst. The views expressed are his own) By John Kemp LONDON, **v 14 (Reuters) - "As a result of the fall in demand and the rise in **n-OPEC supplies, we recognised too late that oil was overpriced, that it had reached an unwarrantably high level, destroying the state of virtual equilibrium between supply and demand," the Saudi oil minister told his audience. The recent sharp drop in prices had **t been good for either producers or consumers, he explained. "Neither ... can plan with confidence for long-term energy production, investment and consumption ... ...

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