Saudi Ambassador to the U.S. Prince Bandar bin Sultan bin Abdul Aziz on Friday met with U.S. President George W. Bush.
In a statement to the press following the meeting, Prince Bandar said that he had conveyed a message from Crown Prince Abdullah bin Abdul Aziz, the Deputy Premier and Commander of the National Guard, to President Bush on issues pertaining to petroleum, noting that both Crown Prince Abdullah and President Bush believe that high oil prices will adversely impact on the international economy.
“The Kingdom of Saudi Arabia will not allow a shortage of supplies,” Prince Bandar said, noting that the Kingdom had demonstrated this policy last year, when the oil production of Venezuela, Nigeria and Iraq decreased. “We believe that the oil price per barrel should range between $22 and $28, as set by OPEC, and we are keen to maintain the price at $25,” he said.
Prince Bandar noted that Crown Prince Abdullah and President Bush have agreed to maintain contact over the forthcoming few weeks to discuss the situation of the global oil market.
Source: SPA
