NEW YORK (Reuters) - British Prime Minister David Cameron said on Thursday a possible release of strategic oil reserves to tame soaring fuel prices is “worth looking at,” but that no decision had been made after the discussions he had with U.S. President Barack Obama.
“Short term, should we look at reserves? Yes, we should,” he said in New York after meeting with top Wall Street financial executives following meetings in Washington with Obama and other senior officials.
“We’d both like to see global oil prices at a lower level than they are,” he said at a question and answer event with students at New York University. “We didn’t make any decisions - this has to be discussed broadly.”
U.S. and British officials told Reuters earlier that Obama and Cameron had discussed the possible release of oil reserves to help knock down spiking fuel costs that also threaten to undercut economic recovery.
Officials also said Britain would most likely agree to take action if the release was formally proposed by Obama, although any move to curtail rising oil prices had yet to be finalized.
Reporting by Matt Falloon; Editing By James Dalgleish and Leslie Adler