"We believe the current price of oil is too high. We feel high prices are damaging the developing countries. (Prices) are market driven. The speculation in the market has impacted the price of oil. The increase in demand in the world has also impacted the price."

Saudi Arabian King Abdullah told India's NDTV television channel in an interview conducted in the Saudi capital Riyadh before his departure Sunday on a four-day tour of Asia, which kicked off Sunday in China.

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