Tags: ML | Saudi | US | Oil

Cantor Meets With Saudi Oil Minister

Wednesday, 11 January 2012 09:16 AM

RIYADH, Saudi Arabia — The U.S. Congress' House majority leader has met with Saudi Arabia's oil minister, marking the latest stop by an official from a major oil importing nation to the OPEC kingpin since Iran threatened to shutter the vital Strait of Hormuz.

A statement released Wednesday by the Saudi Oil Ministry says Ali Al-Naimi and Rep. Eric Cantor, R-Virginia, discussed the importance of coordination between oil exporters and importers to stabilize oil markets.

Earlier in the week, Japan's foreign minister was in Saudi Arabia. His talks highlighted the Asian nation's need for stable supplies of oil, in particular if Iran follows through on threats to choke off the strait through which a sixth of the world's crude flows in retaliation for U.S. sanctions targeting its central bank.

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Wednesday, 11 January 2012 09:16 AM
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