President Obama and Saudi king hold first direct talks

LONDON (Reuters) - U.S. President Barack Obama and Saudi King Abdullah discussed cooperation on the global economic crisis and joint efforts against terrorism, in their first face-to-face talks on Thursday on the sidelines of a G20 summit, the White House said.

Obama also reiterated his support for a Saudi initiative for Arab-Israeli peace that has been stalled almost since it was put forth in 2002.

"The leaders reaffirmed the long-standing, strong relationship between the two countries," the White House said in a statement.

"They discussed international cooperation regarding the global economy, regional political and security issues, and cooperation against terrorism," it said.

The statement made no mention of whether Obama and the ruler of the world's largest oil-exporting country talked about energy issues.

(Editing by Matthew Jones)