Naimi tightlipped on Bush oil appeal

Ali Naimi, Saudi Arabia’s oil minister, said on Tuesday that US president George W. Bush had “every right” to call for increased oil production to damp the effect of $100-a-barrel prices on the US economy.

But Mr Naimi would not be drawn on whether his country or the Organisation of the Petroleum Exporting Countries would favour such a step.


Opec, the oil cartel, will discuss its production policy on February 1 in Vienna after leaving unchanged its output ceiling in December in spite of record oil prices.

Responding to remarks by Mr Bush, who is staying with Saudi Arabia’s King Abdullah, Mr Naimi said: “Presidents and kings have every right, every privilege, to comment or ask or say whatever they want.”

He added: “The concern for the US economy is valid but what affects the US economy is more than the price of oil.”

Financial Times