Americas

Americas

Obama, Sarkozy discussed oil market conditions: White House

12 April 2012 19:56 (UTC +04:00)

Baku-APA. U.S. President Barack Obama discussed conditions on world oil markets during a video conference on Thursday with French President Nicolas Sarkozy, the White House said, APA reports quoting Reuters.

"The president and President Sarkozy agreed to continue their consultations about the tightness in global oil markets, in line with previous conversations," White House press secretary Jay Carney said during a briefing.

Carney declined to comment on whether the leaders’ discussion had touched upon the release of strategic oil reserves to bring down high global energy prices.

French ministers disclosed last month that the United States, Britain and France had held talks about possible releases from strategic oil stocks, and the French voiced optimism that such action stood a good chance of taking place.

British sources said earlier in March that London was prepared to cooperate with Washington on an oil release.

The high cost of crude oil has driven up the price of U.S. gasoline. This has fanned concern that this additional burden on household budgets could dent the country’s economic recovery and harm Obama’s hopes for re-election on November 6.