Venezuelan minister of energy will visit the Gulf states in November

A Kuwaiti source said that Venezuelan Minister of Mining and Energy Ali Rodriguez Araque will visit some of the petroleum producing Gulf states in the second half of November, including Saudi Arabia, Kuwait, Iran, which are members of OPEC in the framework of monitoring the producers' commitment to OPEC's agreement to restrict their production.

Gulf sources said, "The visit aims at creating coordination with the petroleum-producing Gulf states and discussing the possibility of convening a meeting soon for the organization, especially regarding reducing production."

The sources added, "There are signs that demand for petroleum is increasing, but the producers need another proof of continuing consumption growth ... as the reserves are still large."