Riyadh (dpa) - Saudi Arabia will host a meeting of oil producers and
consumers on June 22 to discuss the rising price of oil, a source said
on Tuesday.

Saudi Oil Minister Ali al-Nuaimi was asked by the cabinet yesterday
to invite representatives of producer and consumer nations, oil
companies, exporters and traders to discuss price hikes.

Saudi Arabia, the world's largest oil producer, has previously
announced that it will work with the Organization of Petroleum
Exporting Countries (OPEC) to curb the leap in prices.

The benchmark price for crude oil in New York surged to a record 139.12 dollar last Friday.

Last month, Saudi officials announced that production was increased
by 300,000 barrels to meet customer demands after US President George W
Bush pressed the kingdom to boost output to help end the volatility in
world markets. dpa str ns