AGL 34.48 Decreased By ▼ -0.72 (-2.05%)
AIRLINK 132.50 Increased By ▲ 9.27 (7.52%)
BOP 5.16 Increased By ▲ 0.12 (2.38%)
CNERGY 3.83 Decreased By ▼ -0.08 (-2.05%)
DCL 8.10 Decreased By ▼ -0.05 (-0.61%)
DFML 45.30 Increased By ▲ 1.08 (2.44%)
DGKC 75.90 Increased By ▲ 1.55 (2.08%)
FCCL 24.85 Increased By ▲ 0.38 (1.55%)
FFBL 44.18 Decreased By ▼ -4.02 (-8.34%)
FFL 8.80 Increased By ▲ 0.02 (0.23%)
HUBC 144.00 Decreased By ▼ -1.85 (-1.27%)
HUMNL 10.52 Decreased By ▼ -0.33 (-3.04%)
KEL 4.00 No Change ▼ 0.00 (0%)
KOSM 7.74 Decreased By ▼ -0.26 (-3.25%)
MLCF 33.25 Increased By ▲ 0.45 (1.37%)
NBP 56.50 Decreased By ▼ -0.65 (-1.14%)
OGDC 141.00 Decreased By ▼ -4.35 (-2.99%)
PAEL 25.70 Decreased By ▼ -0.05 (-0.19%)
PIBTL 5.74 Decreased By ▼ -0.02 (-0.35%)
PPL 112.74 Decreased By ▼ -4.06 (-3.48%)
PRL 24.08 Increased By ▲ 0.08 (0.33%)
PTC 11.19 Increased By ▲ 0.14 (1.27%)
SEARL 58.50 Increased By ▲ 0.09 (0.15%)
TELE 7.42 Decreased By ▼ -0.07 (-0.93%)
TOMCL 41.00 Decreased By ▼ -0.10 (-0.24%)
TPLP 8.23 Decreased By ▼ -0.08 (-0.96%)
TREET 15.14 Decreased By ▼ -0.06 (-0.39%)
TRG 56.10 Increased By ▲ 0.90 (1.63%)
UNITY 27.70 Decreased By ▼ -0.15 (-0.54%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 8,605 Increased By 33.2 (0.39%)
BR30 26,904 Decreased By -371.6 (-1.36%)
KSE100 82,074 Increased By 615.2 (0.76%)
KSE30 26,034 Increased By 234.5 (0.91%)

US Secretary of State Hillary Clinton met Saudi Arabia's king and foreign minister in Riyadh on Friday to discuss the Syria conflict against a backdrop of tension with Iran and oil policy differences. The world's main superpower and its top oil exporter have been strategic allies since the 1940s, but discord over how to respond to Arab popular uprisings strained relations last year.
"Both sides have recognised that their common interests are much more significant than the issues that have recently been dividing them," said Robert Jordan, US ambassador to Riyadh from 2001-03, citing anti-terrorism co-operation, concerns over a nuclear Iran and wider Middle East stability. Pictures broadcast on state television showed Clinton meeting King Abdullah as other officials, including Foreign Minister Prince Saud al-Faisal, Defence Minister Prince Salman and Intelligence Minister Prince Muqrin, looked on.
Although the two states have mended the rift, differences persist on regional policy and how to tackle high oil prices. The United States and other consumer countries fear Saudi Arabia may cut oil output if they release emergency reserves, neutralising their effort to cool world energy markets.
Diplomats and industry sources said Western countries may want Clinton to seek reassurance that the Saudis will not undercut their bid to cut their fuel costs. Oil prices have risen sharply since the start of the year, at one point breaking $128 a barrel, largely because of expanded sanctions imposed on major oil exporter Iran aimed at slowing its disputed nuclear programme.
Saudi Arabia says it also wants to reduce oil prices, but that the last stocks release failed to do so and that it is already meeting all demand for its crude. "You saw what happened in the last release? Nothing," said Oil Minister Ali Naimi in Doha last week. After meeting Saudi and other Gulf Arab foreign ministers on Saturday, Clinton will head to Turkey for meetings with the Syrian opposition.

Copyright Reuters, 2012

Comments

Comments are closed.