United Nations Radio

Secretary-General Ban Ki-moon has welcomed the decision by King Abdullah of Saudi Arabia to convene a high-level meeting of major oil producers and consumers on soaring food and fuel prices.

The Secretary-General who was on a two-day visit to Saudi Arabia told reporters that King Abdullah expressed the view that there are a number of factors involved in the issue of soaring oil prices and therefore required coordinated efforts with all stakeholders, including the consumers and producers of oil.

He said King Abdullah acknowledged that the current oil price is abnormally high and he is willing to do what he can to manage the price of oil to adequate levels.

The Secretary-General said during the discussions he described the rising price of food and rising price of oil as "two major and very closely inter-connected problems which all countries around the world must face."

Secretary-General Ban said he expects His Majesty the King and his Government will take the necessary measures to stabilize the price of oil, noting that it has been impacting almost all aspects of our life, including the soaring price of food, which has created a global crisis; and has weakened capacity to address climate change issues.

This is Donn Bobb reporting for United Nations Radio.

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