Saudi Arabia says it will release as much oil as market needs

Published September 29th, 2000 - 02:00 GMT

Saudi Crown Prince Abdullah Bin Abdel Aziz said Wednesday the Gulf kingdom was willing to release however much oil was needed to stabilize markets. 

 

But, addressing a summit of the Organization of Petroleum Exporting Countries (OPEC), he also criticized industrialized countries for what he said were "unjust" taxes they impose on oil. 

 

"The Kingdom of Saudi Arabia is willing and ready to offer whatever quantity is needed to stabilize the market," the prince said. 

 

He also said OPEC wrongly suffered from a poor international image, and urged oil consumers to stop blaming the oil cartel for all global economic ills.—AFP. 

©--Agence France Presse. 

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