Attending the key Asia Pacific Economic Cooperation (APEC) summit in Sydney, U.S. President George Bush has confused the name of the meeting with OPEC (Organization of the Petroleum Exporting Countries). The president made the slip in a speech to a group of business leaders.

President Bush was on stage at the Sydney Opera House when he thanked Australian Prime Minister John Howard for his kind introduction and also for being such a good host for the "OPEC" summit.

He quickly apologized saying, "I mean APEC summit... I've been invited to the OPEC summit next year. The APEC summit."

His mistake brought laughter from the audience.