Our Awful Situation

« A new use for SUV’s…call it “home”
Chavez Says Attack by the U.S. Would Cause $500 Oil »

Saudis rebuff Bush’s request to pump more oil

Posted by Charlie Kilo on May 16th, 2008

Maybe they don’t have the oil to increase supply.

Saudi Arabia Friday rebuffed President Bush’s request to immediately pump more oil to lower record prices, saying it does not see enough demand to increase production. 

The Saudis said they would increase production if customers demanded it, Steven Hadley, Bush’s national security adviser, said.

Ali al-Naimi, the Saudi oil minister, on Friday said the country had increased its production by 300,000 barrels a day on May 10 in response to customer requests.

Al-Naimi said the increased production would bring Saudi Arabia’s daily production to 9.45 million barrels per day by June.

Bush is spending much of the day in closed-door meetings with King Abdullah, the Saudi ruler.

Friday’s visit was Bush’s second trip to the kingdom this year, coming as oil prices reached a new record high Friday of more than $127 a barrel. When he traveled to Riyadh in January, his request for the Saudis to pump more oil was also rejected.

Comments

{ }

Search

Recent Posts

Sites of Interest

Archives

Categories