JIDDA, Saudi Arabia (Kyodo) With no immediate relief in sight from record-high crude oil prices, an urgent one-day meeting was held in Saudi Arabia before international attention shifts to the Group of Eight industrialized nations' summit in Hokkaido early next month.
Major oil producing and consuming countries showed solidarity at the meeting Sunday in Jidda, with Saudi Arabia making a fresh commitment to further raise oil output if necessary.
Although not all of the countries share the same stance, major oil exporters and importers managed to refrain from playing the blame game, delegates said.