Ahead of the key June 22nd OPEC meeting in Vienna, Arab Gulf ministers met over a meeting on Saturday, but preferred to remain tight-lipped on whether they would seek to increase crude oil output in H2 2018 to counter the potential shortfalls from Iran and Venezuela, Platts reports.
Saudi Arabia’s energy minister Khalid al-Falih met with his counterparts Bakheet al-Rashidi from Kuwait, Suhail al-Mazrouei from the UAE, along with Mohammed al-Rumhy, oil and gas minister from non-OPEC producer Oman, as cited by Kuwait’s state-run news agency (KUNA).
The “unofficial consultative meeting,” hosted in Kuwait City came after Saudi Arabia and non-OPEC producer Russia signaled that they could decide to raise the output by 1 million bpd when they meet later this month.
Also Read: Arab oil ministers stress need for continued OPEC, non-OPEC cooperation – KUNA
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