GCC oil ministers agree to reduce oil production

Oil ministers from the six Gulf Cooperation Council countries -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- have agreed to reduce their countries' oil production as of March 1999 to support oil prices in the current low-priced world oil market.

Officials close to the talks held by the ministers in Abu Dhabi on Tuesday said that the ministers agreed to ask other oil producers in OPEC to join them in these reductions.

The ministers also agreed to a request proposed by Mexico, a non-OPEC member, to join the oil reduction.

The oil ministers accompany the leaders of the Gulf Cooperation Council member states in their summit, which started deliberations on Monday.