Saudi Oil Minister Ali Naimi has sought to calm oil markets by insisting that Opec has ample spare capacity to handle even unexpectedly large demand growth in 2011 (PIW Jan.l7,pl). The world economy "has clearly passed" the financial crisis and deep recession of 2008-09, and in 2010 entered "a stage of growth which is expected to continue this year, before accelerating gradually," Naimi said.
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