USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

164

Saudi Arabia Leaves Oil Deposits To Descendants

The official Saudi Press Agency reported that Saudi Arabia's King Abdullah said he had ordered some new oil discoveries left untapped to preserve oil wealth in the world's top exporter for future generations

Saudi Arabia Leaves Oil Deposits To Descendants

The official Saudi Press Agency reported that Saudi Arabia's King Abdullah said he had ordered some new oil discoveries left untapped to preserve oil wealth in the world's top exporter for future generations.

"I keep no secret from you that when there were some new finds, I told them, 'no, leave it in the ground, with grace from god, our children need it," he added, SPA said.

The US President George W Bush in January urged the Saudi king to help tame soaring prices by encouraging Opec to pump more oil.

On separate trips to Saudi Arabia this year, the US energy secretary also asked for more oil, while the vice president discussed high prices with the king.

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