The UK Energy Minister, Malcolm Wicks, is to meet the Saudi Oil Minister Ali Al Naimi this week to discuss concerns over the steeply rising price of oil. Some experts are forecasting that oil prices could reach $250 per barrel next year. "Mr Wicks will meet Mr al-Naimi for talks in Riyadh on Saturday. He is expected to press for Saudi cooperation to ensure greater transparency in the global oil market, including more up-to-date data on oil production, trade and stocks in an effort to limit the opportunity for speculation by reducing oil price volatility."
