Saudi Arabia will be hosting talks on June 22 between oil producing countries and consumers, in order to talk about oil's recent high prices, various news agencies reported.

The International Energy Agency (IEA) has said it will attend the meeting, while the U.S. has not yet said whether it would or would not attend the meeting, which is being hosted by OPEC member Saudi Arabia.

A global summit between oil producers and consumers is an idea that had also been suggested by the European Commission (face=+Italic; see related story, thiface=-Italic; ...

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