[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
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Since she was 16-years-old, Scottish Nationalist Party's Sturgeon has strove for independence from the UK.
Armed group's ransom success with German hostages marks a re-emergence, as authorities investigate ISIL links.
Western nations are moving into the resource-rich country after decades of disinterest, challenging China's interests.