US energy secretary expects talks about oil prices

AP News
Posted: Apr 07, 2011 9:52 AM
US energy secretary expects talks about oil prices

The U.S. energy secretary says both oil-producing and oil-consuming countries are concerned about rising prices.

Secretary Steven Chu spoke Thursday during a visit to Abu Dhabi, capital of the United Arab Emirates. He says oil prices "have an impact on a very fragile economic recovery" by putting additional strain on the world economy.

Chu didn't say whether he planned to hold discussions specifically about rising oil prices with U.S. allies in the Persian Gulf, but he did say he thinks there will be international talks about the issue.

Chu is in the Emirates to attend a clean energy conference. The UAE is a member of OPEC and the world's fourth-largest oil exporter.

Benchmark U.S. oil prices approached $109 a barrel Thursday.