Bush talking to Saudi king about high oil prices

US President George W. Bush on Tuesday nudged OPEC powerhouse Saudi Arabia and other cartel members to produce more oil, recognizing that soaring prices are straining the US economy. Bush said he is speaking with Saudi King Abdullah, whose nation holds the world's largest oil reserves, about the situation that has seen the per-barrel price briefly top US$100 this month and US pump prices jump past $3 a gallon. "Oil prices are very high, which is tough on our economy," Bush said. "I would hope, as OPEC considers different production levels, that they understand that if ... one of their biggest consumers' economy suffers, it will mean less purchases, less oil and gas sold."