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GCC oil ministers meet in Vienna

posted on 02/02/2008: 827 views

Vienna - Oil ministers of the GCC member states in OPEC held consultation talks last night ahead of the organisation's extraordinary meeting, scheduled yesterday..

The talks, attended by energy minister Mohammed bin Dhaen Al Hamli and oil ministers of Saudi Arabia, Kuwait and Qatar, focused on assigning quotas for the second half of the year. This is the main topic on OPEC meeting's agenda.

Observers stressed the importance of GCC ministers' talks, saying that exports by the four countries, estimated at 15 million bpd, represent half of OPEC's total production.

"The GCC ministers conducted an evaluation of the market's current status. It is likely that OPEC will keep its production steady," said Abdullah bin Hamad Al Attiyah, Qatari minister of energy & industry. – Emirates News Agency, WAM


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