Saudi Oil Minister Ali Al-Nuaimi will visit Moscow in mid-November to garner Russian support ahead of a crucial OPEC meeting expected to slash output to boost prices, a diplomatic source said Monday, October 29.
"Nuaimi will most likely be in Moscow on November 13 and 14 to hold talks with his Russian counterpart" on the situation in the international oil market, the diplomat told AFP on condition of anonymity.
A Saudi oil source, meanwhile, said that preparations were ongoing to line up visits by Nuaimi to other non-members of the Organization of Petroleum Exporting Countries, notably Mexico and Norway.
The source however declined to say if the visits would take place before or after OPEC's November 14 meeting. Nuaimi met with Russia's ambassador to Riyadh, Andre Baklanov, on Monday for talks on the situation in the oil market.
Moscow, the world's leading non-OPEC producer, appeared on October 22 to rule out the option of cutting its own production.
The price of oil in London on Monday was lifted by the prospect of an OPEC production cut and speculation that the United States could buy crude to replenish its strategic reserves. A barrel of benchmark Brent North Sea crude for December delivery rose to $21.37 from $21.02 on Friday evening. ― (AFP, Riyadh)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
