Saudi finance chief unruffled by high oil prices

BERLIN, Nov 20 (AFP) - Saudi Finance Minister Ibrahim al-Assaf said on Saturday that high oil prices were having little impact on developed countries, on the sidelines of a meeting of Group of 20 finance chiefs in Berlin.
"The impact on developed countries is very limited," he told reporters.
But he said that "as far as developing countries are concerned, there is a negative impact."
Assaf said the G20 members had discussed mechanisms by which to come help these countries including action through the International Monetary Fund or other bilateral measures.
International oil prices surged again this week amid fears on an already-jittery market that a looming cold front in the northern hemisphere could expose energy shortages.

11/20/2004 17:16 GMT - AFP