Saudi oil-price summit to include investment bankers

06/11/2008 | Rigzone

OPEC has set June 22 as the date for an international summit to address skyrocketing oil prices. OPEC Secretary-General Abdalla Salem el-Badri said the invitees will include oil majors, energy ministers from producing countries, U.S. Energy Secretary Samuel Bodman and Nobuo Tanaka, executive director of the International Energy Agency. Goldman Sachs and Morgan Stanley are also on the guest list, suggesting the meeting in Jeddah, Saudi Arabia, may look at the increasing flow of funds into the commodities market, which some officials blame for the price surge.

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