The United States does not expect the forthcoming meeting of major oil producers and consumer countries on June 22 in Jeddah, Saudi Arabia, to result in any commitments to increased production, the White House said Monday.
"We are not expecting an outcome of this meeting to be additional pronouncements on production," White House spokesman Tony Fratto told local media.
President George W. Bush, who is not to attend the international meeting, is due to consult with his advisors Tuesday to decide who would represent the United States at the talks, Fratto said.
Saudi Arabia announced last week that the scheduled oil meeting would discuss the high oil prices. The gulf Arab country, which supplies about 11 percent of the world's daily oil needs of around86 million barrels is under increasing pressure to do something to tamp down prices.
The United States also urged the Organization of Petroleum Exporting Countries (OPEC) to increase oil production to cope with soaring oil prices. However, the OPEC has maintained that the oil market is well supplied and that current prices do not reflect market fundamentals of supply and demand.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article