Brown to fly to Saudi oil talks

Updated 15.39 Fri Jun 20 2008
Keywords: Saudi, Gordon Brown, oil

Gordon Brown is to fly to Saudi Arabia to try to broker a deal to tackle soaring oil prices.

The Prime Minister is set to attend talks between leading oil producers and consumers in Jeddah on Sunday.

Mr Brown said he wants to see producers invest profit made from rising prices into nuclear and renewable energy in a bid to stabilise oil prices in the long term

The emergency meeting was called by Saudi Arabia, the world's leading oil producer.

The kingdom has stepped up its supply of oil but is unlikely to orchestrate a hike in production across the Opec group of oil-producing countries.

Mr Brown said he wants to see producers invest profit made from rising prices into nuclear and renewable energy in a bid to stabilise oil prices in the long term.

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