US says to maintain Saudi oil trade relationship
Posted on: Tuesday, 2 May 2006, 09:15 CDT
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.
Source: REUTERS
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