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Saudi Arabia Losing Control of Oil, McNally Says


March 21, 2012 10:21 AM EDT March 21 (Bloomberg) -- Bob McNally, president and founder of Rapidan Group LLC, talks about Saudi Arabia's oil production and the outlook for oil prices. Saudi Arabia can increase crude production by as much as 25 percent immediately if needed, the country's oil minister said, seeking to allay the concern over supplies that has driven prices to the highest in three years. McNally speaks with Erik Schatzker on Bloomberg Television's "InsideTrack." (Source: Bloomberg) (Bloomberg)

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