Kuwait suggests convening petroleum meeting

A high-level Gulf source today told ArabicNews.com that Kuwaiti Minister of Petroleum Sheikh Saud Nasser al-Sabah suggested convening a three-way meeting that will include Saudi Minister of Petroleum Ali El-Noaimi and United Arab Emirates Minister of Petroleum Ebeid Ben Saif El-Nasiri during the coming week.

The source added that the current communications between Riyadh, Kuwait and Abu Dhabi aim at determining the final date for the meeting and whether it will include other ministers of petroleum.

News reports indicated the possibility of including Iranian Minister of Petroleum Bijan Namdar-Zanganeh in the meeting, which aims at addressing recent developments in the petroleum market, discussing methods of subsidizing prices and revising what was implemented within OPEC's last agreement in Vienna which led to falling oil prices.

A sources in the UAE said that convening the meeting depends on what now takes place.