Can Saudi Arabia Bring Down Gas Prices?

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Can Saudi Arabia Bring Down Gas Prices?

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What would it take to bring oil and gas prices down from the record highs that have frustrated consumers for months? Well, let’s start with about another one million barrels of oil a day from Saudi Arabia. The Middle Eastern kingdom — which, according to the International Energy Agency, has the world’s largest proven oil reserves — hasn’t announced such a large-scale production increase, but it could happen, some say. “I think they know it’s in their best interest to do whatever they can, psychologically, to bring the prices down,” said Dan Flynn, an energy trader with Alaron Trading Corp. in Chicago. How Are You Dealing With Gas Prices? Tell ABC News Iyad Madani, Saudi Arabia’s information and culture minister, said Monday that the country called for a meeting between oil-producing and oil-consuming countries to discuss how to tackle surging oil prices. Madani also said the kingdom was ready to provide oil companies and countries “with any additional oil they need.” The Saudis announc

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