News Column

Kerry, Saudi king discuss oil supply: US official

June 29, 2014



During the talks, Kerry referred to recent comments by a Saudi oil official that the world's largest oil producer would increase supplies should crises in Iraq or Syria disrupt supplies, the official said.



US Secretary of State John Kerry and the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz of Saudi Arabia, briefly discussed global oil supplies during a meeting on the crisis in Iraq on Friday, a senior US State Department official said.







During the talks, Kerry referred to recent comments by a Saudi oil official that the world's largest oil producer would increase supplies should crises in Iraq or Syria disrupt supplies, the official said.







"The secretary noted positively a recent statement from an oil official in the kingdom reflecting the kingdom's desire to do what will be required in the event of any turbulence," said the State Department official, who briefed reporters on the talks.







The official said Kerry believed the Saudi official's comments were "constructive." US officials have expressed the belief that concerns in oil markets will ease once a more inclusive government is formed in Baghdad that can deal with an insurgency threatening to break apart Iraq.







Brent crude oil was little changed in trading on Friday following one of the international benchmark's biggest weekly falls this year due to reduced concerns over exports from Iraq.







Prices have dropped more than $2 from a nine-month high of $115.71 hit on June 19 as output from Iraq's southern oilfields remained unaffected by fighting in the north and west.




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Source: Khaleej Times (United Arab Emirates)


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