Riyadh: Saudi, Mexico, Venezuela, Kuwait support

Published March 13th, 2001 - 02:00 GMT

Key oil producers Saudi Arabia, Mexico and Venezuela are to meet here later today to coordinate policy "crucial for the stabilization of crude prices according to the needs of the market," the Riyadh-based Okaz newspaper reported. 

 

The meeting is aimed to coordinate their oil policy here before the OPEC meeting in Vienna, scheduled for Friday, which is expected to cut production. 

 

Though Mexico is not a member of OPEC, it, along with Saudi Arabia and Venezuela, is one of the three leading exporters of crude to the US, the world's biggest consumer. 

 

Martens will attend talks on the sidelines of the meeting and will be represented by Mexico's delegate Juan Antonio Barges, under secretary for policy and energy development, according to OPEC. 

 

According to OPEC, Russia, Oman, Mexico and Angola will attend the meeting as observers. "They have been invited and we are reckoning on it (their attendance)," said the spokeswoman.  

 

She added that also Kazakhstan has been invited to attend an OPEC meeting as an observer for the first time and is expected to send a delegate to Vienna this week. "We are waiting to hear from all of them to confirm it," an OPEC spokeswoman said Monday.  

 

Venezuelan Energy Minister Alvaro Silva Calderon, Saudi Oil Minister Ali al-Nuaimi and Mexican Oil Minister Ernesto Martens are to meet here later today to coordinate policy "crucial for the stabilization of crude prices according to the needs of the market," the Riyadh-based Okaz newspaper reported. 

 

Meanwhile, in Kuwait, Foreign Minister Sheikh Sabah al-Ahmad al-Sabah, who chairs the emirate's Supreme Petroleum Council, told reporters outside parliament: "Kuwait will support any agreement reached by OPEC to cut production." Reported a news agency. 

 

Sheikh Sabah declined, however, to propose a figure for a cut, saying the amount "should be left for OPEC to decide". 

 

"We are with the accord that OPEC members reach. We will not go against the consensus," Kuwait's new oil minister, Adel el-Sebeih, said. "The amount will be subject to figures to be supplied to us at the meeting." According to the news agency. 

By Elio Ohep 

(petroleumworld)  

 

© 2001 Mena Report (www.menareport.com)

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