Oil price may hurt economy: Susilo

Oil price may hurt economy: Susilo

JAKARTA: Indonesian President-elect Susilo Bambang Yudhoyono
vowed Friday to find a solution to rising oil prices, which he
said could hurt the global economy.

Crude oil futures eased slightly to US$54.58 at 1300 GMT on
electronic after-hours trading on the New York Mercantile
Exchange, a day after a decline in the U.S. inventory of heating
oil roiled a market already on edge over tight supplies, high
demand and unrest among key producers.

Yudhoyono "complained that the current high oil prices in the
world market could harm either Indonesia's or the global
economy," said presidential spokesman Dino Patti Djalal,
following a meeting between the incoming leader and ambassadors
of other Organization of Petroleum Exporting Countries.

OPEC President Purnomo Yusgiantoro is also Indonesia's energy
minister, a post some insiders say he is likely to retain in a
Yudhoyono Cabinet. -- AP