Persian Gulf Arab Oil Ministers to Meet to Discuss Joint Strategy, Markets

["David" <david@logicaldirection.org>]

Persian Gulf Arab Oil Ministers to Meet to Discuss Joint Strategy, Markets


RIYADH -- Oil Ministers of the Persian Gulf Cooperation Council (PGCC)
states will meet in Oman Saturday to discuss a joint petroleum strategy and
the current state of oil markets, the PGCC Secretary General said Wednesday,
AFP reported.

"The meeting will review current and future situations of the oil markets
and results of the Eighth Energy Forum between consumers and producers,"
Abdulrahman al-Atiya said in a statement.

The PGCC groups oil powers Saudi Arabia, Kuwait, the United Arab Emirates
(UAE) and gas-rich Qatar, as well as Bahrain and Oman, the latter two not
members of the Organization of Petroleum Exporting Countries (OPEC).

The ministers will discuss a "blueprint for the PGCC petroleum strategy"
which aims at outlining member states' policies and objectives in the energy
sector, Atiya added.

The six-state alliance together has a daily production of 13 million barrels
of crude oil per day and holds some half of the world's proven oil reserves
and large quantities of natural gas.

Atiya said the meeting will also tackle PGCC relations with international
blocs in addition to major oil producers and consumers, and issues linking
energy with environment.