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Saudis Seek Meeting On Rising Oil Prices

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Jun 9, 2008 2:00 pm US/Central

Saudis Seek Meeting On Rising Oil Prices

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NEW YORK (AP) ― Saudi Arabia says it will call for a meeting of oil producing countries and consumers to discuss soaring oil prices and work to prevent unjustified rise in prices.

Information and Culture Minister Iyad Madani said Monday the kingdom will work with OPEC to "guarantee the availability of oil supplies now and in the future."

In a statement following the weekly Cabinet meeting, the minister said Saudi Arabia will work to control "unwarranted and unnatural" price hikes.

He says the current price of oil is unjustified.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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