| Bush disappointed with opec but saudi says no contact Original Source Link: (May no longer be active) http://www.forbes.com/business/newswire/2004/04/01/rtr1320570.htmlhttp://www.forbes.com/business/newswire/2004/04/01/rtr1320570.html
Saudi says not heard from Bush over OPEC oil cut Reuters, 04.01.04, 12:39 PM ET
VIENNA, April 1 (Reuters) - Saudi Arabia's foreign minister said on Thursday he had not been contacted by the Bush administration over OPEC's decision on Wednesday to cut crude output by one milllion barrels per day.
U.S. Energy Secretary Spencer Abraham told a House of Representatives committee on Thursday President George W. Bush had spoken to most of the leaders of OPEC nations about global crude oil supplies and rising prices.
But Abraham declined to respond to a lawmaker's question about whether the president had specifically spoken to Saudi Arabia, the cartel's largest member which led a push this week to cut OPEC production by one million barrels per day in April.
Asked if the United States had expressed its disappointment to him over the cut, Saudi Foreign Minister Prince Saud al-Faisal told reporters:
"I didn't hear this from the Bush administration. I'm hearing it from you that they're disappointed."
The Bush administration faces growing pressure from Democrats to take action amid record-high U.S. retail gasoline prices.
In the run-up to Wednesday's OPEC meeting, the administration abandoned its so-called "quiet diplomacy" and instead said publicly that it was pressuring OPEC to delay a production cut.
Its request was supported by OPEC members Kuwait and the United Arab Emirates, but opposed by Saudi Arabia, a longtime U.S. ally.
Abraham said Bush administration officials may have spoken to Saudi officials in recent weeks.
"We are very disappointed with the decision (OPEC) made yesterday and obviously are evaluating what we might" do, Abraham added.
U.S. crude fell 50 cents to $35.26 on Thursday after losing 1.4 percent on Wednesday on news of a huge build in U.S. crude inventories and the Saudi foreign minister said earlier the fall justified the cartel's decision.
"As you have seen, since we reduced production in OPEC the price went down. This reflects the veracity of the position that Saudi Arabia has taken that there is an excess capacity on the market rather than shortages," he said.
Copyright 2004, Reuters News Service
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