Gulf countries postpone exceptional meeting of oil ministers

Ministers of oil in Gulf Cooperation Council countries postponed an exceptional meeting which was to discuss the recent slide in oil prices.

The director of the oil and gas administration in the council said the meeting wasn't canceled, but the member countries preferred to have some time to think. He also said the ministers are pursuing consultations and communications with OPEC.

The directors of marketing for Gulf states' national petroleum companies will hold their periodic meeting on March 10.

Meanwhile, the council has not yet specified the next meeting's agenda. Oman's petroleum minister, Mohamed Ben Hamed, called on the Gulf countries to hold an urgent meeting in Muscat to discuss the falling prices and their effects on the region.

Finally the ministers of petroleum agreed to wait and see what will happen in the Iraqi crisis.