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Saudi's Minister of petroleum and mineral ressources, Ali Al-Naimi (C), returns to a ministerial session at the 19th World Petroleum Congress in Madrid on July 3, 2008. World oil prices hit record highs above 145 dollars per barrel today, as the market was energised by Middle East tensions, falling US crude reserves and the weak dollar, traders said.
Saudi Arabia's Oil Minister Ali al-Naimi (R) meets France's Minister of Ecology, Sustainable Development and Town and Country Planning Jean-Louis Borloo during a news conference at the Jeddah Energy Meeting June 22, 2008. World energy powers embarked on a new level of dialogue to rein in runaway oil prices at an emergency meeting in this Red Sea city, but were unlikely to come up with a quick fix.
Saudi Arabia's Oil Minister Ali al-Naimi (L) and Assistant Oil Minister Prince Abdulaziz Bin Salman attend the International Energy Forum at a hotel in Rome April 20, 2008. Oil ministers and leading energy company heads are gathering in Rome for the International Energy Forum conference which takes place from Sunday to Tuesday.
Saudi Arabian Oil Minister Ali Al-Naimi (L) listens to Geneva-based consulting firm NALCOSA president and former Algerian Energy minister Nordine Ait-Laoussine, on April 10 2008 in Paris, during the 9th International Oil Summit. Al-Naimi said that there were not enough buyers of oil to justify an increase in oil production, despite high prices.
Saudi Arabia's Oil minister Ali al-Naimi (R) talks to journalists at the beginning of a meeting in OPEC's headquarters in Vienna March 5, 2008. OPEC ministers were poised on Wednesday to hold output steady, resisting pressure from top consumer the United States to pump more oil to help prop up a fragile economy.