Gulf Arab oil ministers to meet Sunday ahead of OPEC

Gulf Arab oil ministers to meet Sunday ahead of OPEC

The meeting is the 29th annual Gulf Cooperation Council (GCC) ministerial gathering of the petroleum cooperation committee.

October 7, 2010 1:46 by Reuters

Gulf Arab oil ministers will meet in Kuwait on Sunday to discuss crude output policy ahead of an OPEC meeting to decide production levels in Vienna next week.

The ministers from leading exporter Saudi Arabia as well as from the United Arab Emirates, Kuwait and Qatar typically meet to discuss the Gulf perspective on oil output policy ahead of full OPEC meetings.

The meeting is the 29th annual Gulf Cooperation Council (GCC) ministerial gathering of the petroleum cooperation committee.

A preliminary meeting of oil and energy undersecretaries will be held on Saturday, to discuss strategies and refer their report to the ministers on the next day. Ministers of the GCC states are expected to arrive in Kuwait on Saturday.

The Oct. 14 OPEC meeting in Vienna is not expected to agree any formal change in output policy as oil prices have largely held within the range desired by the 12-member producers’ club.

But the rise above $80 a barrel for U.S. crude this month could worry some core Gulf producers anxious not to derail economic recovery or destroy demand in consuming countries.

(Reporting by Amena Bakr; Editing by Jon Hemming)