Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Alnaimi met here today with US Secretary of Energy Samuel Wright Bodman and the accompanying delegation. During the meeting, they discussed a number of issues including the state of the international oil market's supply, demand and level of reserves. They agreed on the importance of the continued stability of the market after the Saudi side shed light on the Saudi efforts in coordination with OPEC countries and other producing countries aiming at ensuring supplying the market with sufficient oil quantities it needs. The meeting also dealt with future prospects for oil demand and supply. The Saudi side talked about the Saudi plans to increase their production capacity of crude oil and refining capacities locally and internationally. The US side talked about the US energy act adopted recently. The two sides focused on the importance of the two countries' cooperation in the field of exchanging information on future plans and work for stability of the international oil market. --More
