IMF MEETING Saudi Arabia ready to boost oil output if needed - France's Lagarde |
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Published
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Sat, 20 Oct 2007 22:49
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WASHINGTON (Thomson Financial) - French Finance Minister Christine Lagarde said Saudi Arabia indicated that it is ready to increase oil output if needed to meet strong demand.'It was interesting to note that the Saudis are prepared and have already undertaken to expand the oil production of the country,' Lagarde told journalists, following talks with Saudi officials on the sidelines of the IMF/World Bank annual meetings.She said Saudi Arabia had 'confirmed that they certainly have more reserves available should it be needed in the near future, which is always helpful in terms of tensions on prices'.Lagarde also said inflation remains 'well controlled' in France despite rising oil prices.Inflation is expected to be around 1.6 pct next year and is running at around 1.3-1.4 pct this year, she said.steve.whitehouse@thomson.comsw/roCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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G7 MEETING France's Lagarde says G7 wants OPEC to increase output 