Skip to: Content
Skip to: Site Navigation
Skip to: Search

November 22, 2008 12:15:26 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Saudis Won't Budge on Oil

Posted May 16, 08 6:26 PM CDT in US,  World 

(Newser) – Saudi Arabia's leaders today denied a request from visiting President Bush that they boost oil production to help ease rising gas prices, the AP reports. "Supply and demand are in balance today," the kingdom's oil minister said, with the commodity pushing $128 per barrel. "How much does Saudi Arabia need to do to satisfy people who are questioning our oil practices and policies?"

Sources Associated Press, New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • $100 Oil Will Return Soon Enough: Study

    Nov 6, 08 10:53 AM CST
    $100 Oil Will Return Soon Enough: Study If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at a steep natural rate of 9% while demand grows nearly unabated, the Financial Times explains. More »

  • OPEC Panics as Oil Plunges

    Oct 22, 08 8:33 AM CDT
    OPEC Panics as Oil Plunges Earlier this year the nations of OPEC were riding high as booming economic growth and tight supplies buoyed crude above $100. But now a barrel of oil is $70 and dropping fast, and frightened petroleum producers are holding an emergency meeting this week to discuss a production cut. As the New York Times reports, a global fall in demand could have major repercussions for nations that have profited from the black gold.
    More »

  • OPEC Heads for Trillon-Dollar Payday

    Aug 11, 08 11:17 AM CDT
    OPEC Heads for Trillon-Dollar Payday OPEC nations have shattered records for income this year, earning as much money in the first 6 months of 2008 as they did in all of 2007, the Financial Times reports. The Saudi-led cartel of oil-exporting nations took home $645 billion in the first two quarters and is on course to pull in more than a trillion dollars by year's end.
    More »

  • $6 Gas Possible by Year's End

    Jul 7, 08 7:38 AM CDT
    $6 Gas Possible by Year's End As oil flirts with $150 a barrel, nearly double its price from last year, the specter of $6 a gallon gas at US pumps has become more real. A plethora of factors—from the threat of conflict with Iran to tight supplies and a weak dollar—continue to exert upward pressure on crude prices, the Wall Street Journal reports. More »

  • Dear God: Please Lower Gas Prices!

    Jul 4, 08 6:21 PM CDT
    Dear God: Please Lower Gas Prices! Many analysts say there isn't a prayer of gas prices coming down any time soon, but there's a group out there bent on proving them wrong, reports CNS News. The Prayer at the Pump Movement, led by Seventh-Day Adventist Rocky Twyman, has been holding vigils at gas stations across the country asking for divine intervention to lower pump prices. More »

President Bush sits with Saudi King Abdullah at the King's Al Janadriyah Ranch in Riyadh, Saudi Arabia, Friday, May 16, 2008.   (AP Photo/Susan Walsh)
Saudi Arabian leaders denied today a request by President Bush that they increase oil output to slow rising gas prices in the US.   (AP Photo/Susan Walsh)
President Bush, left, stands with Saudi King Abdullah during an arrival ceremony in Riyadh, Saudi Arabia, today.   (AP Photo/Haraz N. Ghanbari)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 8)

Tags

George W. Bush • oil price • Saudi Arabia • oil production


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other World Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »