US says to maintain Saudi oil trade relationship

WASHINGTON (Reuters) – U.S. Energy Secretary Sam Bodman
said on Tuesday that the United States and Saudi Arabia will
maintain their oil trade relationship.

“The United States and Saudi Arabia, I believe, will
continue to have a very strong trading relationship … in the
free flow of oil to markets around the world, ” Bodman said at
a joint appearance with Saudi Arabia Oil Minister Ali al-Naimi
at the Center for Strategic and International Studies.

He said that Saudi Arabia’s huge oil reserves and the
United States’ large Strategic Petroleum Reserve should allow
both countries to work together to ensure the world has
adequate oil supplies in emergencies.

Separately, Bodman said the fears among oil traders of
future supply disruptions are a “key factor” behind current
high oil prices.