Bush seeks help from Saudi to lower oil prices

The U.S. President George Bush met the Saudi King Abdullah bin Abdulaziz and urged him to help in lowering oil prices in the world market by increasing oil production in the country.

The Saudi government said that the country already had increased oil production by 300,000 barrels a day and the Saudi Oil Minister Naimi said that since in market there is not demand for oil, so the production has not been increased. On Friday oil price reached $126 a barrel.