Saudi Arabia reject US call to pump more oil

17/05/2008 09:57:09

Saudi Arabia has rejected the US president's request to pump more oil.

Ben Knight reports.

"With oil approaching $130 a barrel, George W. Bush made a personal request to King Abdullah of Saudi Arabia to pump more oil in order to ease prices. But the Saudis say the high price isn't due to a shortage of supply. Instead it's a weak dollar, increased demand in China and India and market speculation that's boosting the price. Saudi Arabia says at the moment demand is not outstripping supply and production won't be increased until the market justifies it. Saudi Araba is a key American ally in the region, But this is the second time in a year the country has rejected a personal appeal by the president to ease pressure on fuel prices in the US."

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