US energy chief pleads for more Saudi, OPEC oil

ABU DHABI, Jan 21 (Reuters) – U.S. Energy Secretary Sam Bodman repeated his plea on Monday for more oil from top exporter Saudi Arabia, undaunted by OPEC’s cautious response to Washington’s request so far.

Oil has fallen by more than 10 percent from a record high of $100.09 a barrel hit early this month, easing some of the pressure on OPEC to raise supplies, analysts said.


Bodman told reporters in Abu Dhabi there was concern about the short-term performance of the U.S. economy and he was hopeful Riyadh would steer a decision to increase oil supplies at OPEC’s meeting on Feb. 1 in Vienna.

Bodman, who met the Saudi oil minister at the weekend, said the United States expected oil inventories to drop in the first half of 2008.

The United Arab Emirates Oil Minister Mohammed al-Hamli said OPEC would examine all options when its ministers meet.

Reuters