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Saudi, Norway discuss stabilising oil market
Saudi press agency
Saudi King Abdullah welcomes Norway’s Foreign Minister Jonas Gahr Stoere at the Royal Palace in Riyadh, April 28, 2008RIYADH
Petroleumworld.com, April 29, 2008
Saudi Arabia's foreign minister said on Monday he discussed with his Norwegian counterpart cooperation between their two oil-exporting countries to stabilise oil markets as prices hit new highs.
Saudi-Norwegian cooperation "aims to stabilise the world oil market to serve the interests of producers, consumers, the oil industry and the world economy in general," Prince Saud al-Faisal told reporters after talks with visiting Norwegian Foreign Minister Jonas Gahr Stoere.
Saudi Arabia, the world's top oil exporter and OPEC kingpin, is keen not to hurt consumers, Saud said when asked about record high prices, which on Monday hit a historic peak close to 120 dollars a barrel.
"We worry about consuming countries. They are our customers, and who would hurt his customer? We are not going to damage the economy of anybody," he said.
Norway, the world's fifth-biggest exporter but not an OPEC member, said last week that it would support a drop in crude prices but does not believe there is a problem of supplies.
Saudi Oil Minister Ali al-Nuaimi for his part called last week for calm in the face of runaway prices, saying there was no imminent oil shortage.
Story from AFP
AFP 28 1347 GMT 04 08
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