GCC ministerial committee on oil cooperation meets today in Riyadh

The ministerial committee on oil cooperation for the Gulf cooperation council GCC started its 21st meeting at GCC headquarters in Riyadh to discuss current and future conditions of world oil markets in the course of the recent agreement reached by several oil producing countries inside or outside OPEC to reduce its production of crude oil.

The GCC ministers discussed the best means of cooperation among the international oil markets and of meeting the requirements of increased oil demand. The ministerial committee will also study several joint oil projects, especially the gas network project among the GCC member states.