RIYADH, Saudi Arabia - Saudi Arabia's leaders made clear Friday they see no reason to increase oil production until customers demand it, apparently rebuffing President Bush amid soaring U.S. gasoline prices.
Here's what really happened:
HT J-Lo here.
May 16 (Bloomberg) — Saudi Arabia, the world's largest oil exporter, will increase crude production next month in response to rising demand from its customers and a request by U.S. President George W. Bush to ease the strain of record oil prices.
The country will raise output by 300,000 barrels a day to 9.45 million barrels a day in June, Saudi Oil Minister Ali al- Naimi said in Riyadh today, following a meeting between Bush and Saudi Arabia's King Abdullah. Earlier today, U.S. National Security Adviser Stephen Hadley said the Saudi policy was to supply extra oil only if customers needed it.
She seems to think that AP will be embarrassed by this -- don't hold your breath.