1998 News Story

Tripartite meeting of oil ministers

Minister of Petroleum and Mineral Resources Ali Al-Naimi met yesterday in Kuwait with Kuwaiti Oil Minister Sheikh Saud Al-Sabah and Qatari Minister of Energy and Industry Abdullah Al-Ateyya to discuss the causes of the low prices for petroleum. A statement issued at the end of the meeting said the ministers had agreed to intensify efforts to observe developments at the oil market and to review possible options for the improvement of oil prices. Another meeting will be held in Kuwait on September 23, 1998, with the participation of the oil ministers of the United Arab Emirates, Oman, and Iran. An invitation has been extended to the Algerian oil minister to participate in this meeting. Consultations will continue and the situation of oil prices will be observed up to the date of the next meeting of OPEC oil ministers scheduled for November, 1998 in Vienna.