facebook
twitter
rss
account
search
search
 

Ban lauds Saudi ruler's actions on oil

June 16, 2008 at 7:42 PM   |   Comments

RIYADH, Saudi Arabia, June 16 (UPI) -- U.N. Secretary-General Ban Ki-moon said Monday he welcomes Saudi Arabia's offer to host a summit of major oil producers to address soaring fuel prices.

Saudi Arabia also has indicated it would increase its oil production by 200,000 barrels a day starting next month to help meet demand.

Saudi King Abdullah bin Abdul Aziz Al Saud "acknowledged that the current oil price is abnormally high, due to speculative factors, and he is willing to do what he can to manage the price of oil to the adequate level," Ban said in a news release issued from New York.

Ban met during the weekend with Abdullah and other officials.

"I am grateful that the King intends to convene a high-level meeting of major oil producers and consumers on this issue next week in the Kingdom," Ban added. "We also expect that His Majesty the King and his government will take the necessary measures to stabilize the price of oil."

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
Merkel urges Putin to withdraw Russian troops from Ukraine Merkel urges Putin to withdraw Russian troops from Ukraine
2
Lindsey Graham fears ISIS will come kill us all, in a not at all hysterical way Lindsey Graham fears ISIS will come kill us all, in a not at all hysterical way
3
Texas woman set for execution for starving girlfriend's son Texas woman set for execution for starving girlfriend's son
4
Rush Limbaugh: Women actually are consenting when they say 'no' Rush Limbaugh: Women actually are consenting when they say 'no'
5
Light 4.0 earthquake shakes Seattle area Light 4.0 earthquake shakes Seattle area
Trending News
Video
x
Feedback