[QODLink]
Archive
Saudis pledge adequate oil supplies
Seeking to address growing concerns over rising fuel prices, Saudi Arabia has pledged to ensure that world oil supplies remain plentiful. 
Last Modified: 02 Apr 2004 01:16 GMT
Rising oil prices have led to worldwide concerns
Seeking to address growing concerns over rising fuel prices, Saudi Arabia has pledged to ensure that world oil supplies remain plentiful. 

"Saudi Arabia's policy is consistent. Number one: we will not allow any shortages in the market," the country's ambassador to the US, Prince Bandar bin Sultan Al Saud, said on Thursday.

Prince Bandar met with President George Bush during the day, passing on a message from Saudi Arabia's de facto ruler, Crown Prince Abd Allah.

Saudi Arabia, OPEC's most influential member, was seen as leading a cartel move to cut production by about four per cent, or one million barrels a day.

US criticism

The Bush administration publicly criticised the action, after asking OPEC to delay production cuts because of record-high US retail gasoline prices.

"I have just passed a message from Crown Prince Abd Allah to the president regarding the energy situation," Bandar said.

"The president and the crown prince have been in touch on this subject for a while now. Both leaders felt strongly that higher energy prices have a negative impact on the world economy," he said.

Rising oil prices are threatening to revive tensions between the US and Saudi Arabia.

Source:
Agencies
Topics in this article
People
Country
Featured on Al Jazeera
Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
Featured
Lacking cohesive local ground forces to attack in tandem, coalition air strikes will have limited effect, experts say.
Hindu right-wing groups run campaign against what they say is Muslim conspiracy to convert Hindu girls into Islam.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
Muslim caretakers maintain three synagogues in eastern Indian city, which was once home to a thriving Jewish community.
Amid fresh ISIL gains, officials in Anbar province have urged the Iraqi government to request foreign ground troops.