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Saudi official: There will be no oil shortages

In a move that is being seen as mending bridges frayed by OPECs decision to cut further oil produ...

Saudi official: There will be no oil shortages

The Prince was there to meet with Bush Administration national security and economic advisors but it is understood that President George W. Bush attended the meeting as well.

Prince Bandar bin Sultan was there to offer reassurances to the Bush Administration, “[My] country will not allow any shortages in the world oil market [and] Saudi Arabia is working with Washington to make sure higher energy prices do not have a negative effect on the world economy.”

The Prince also passed along a message from Saudi Arabia’s Crown Prince Abdullah concerning the OPEC decision.

Tensions between Washington, Riyadh and OPEC have been strained by raising global oil prices and OPEC’s decision to further cut back on production.

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