A week before the June 22 powwow it called to discuss oil prices gone wild, Saudi Arabia told U.N. Secretary-General Ban Ki-moon that it plans another production boost. The Saudis, who hiked output by 300,000 barrels a day in June, now propose to add 200,000 a day in July, for a total output of 9.7 million barrels a day. The kingdom responding to political pressure from the U.S. and Asian customers, but the move seems unlikely to bring down prices much from the $130-plus level. In light of that, President George W. Bush on June 18 said it's time for Congress to end the federal ban on offshore oil drilling. Meanwhile, Big Oil may soon sign contracts to operate in Iraq for the first time since the fall of Saddam.