Source Pravda.Ru

What Will Be The Results Of OPEC Meeting In Cairo?

Oil minister of Kuwait Abd al-Sabah believes that it is so far difficult to forecast the results of the meeting of OPEC countries' energy and oil ministers to be held in Cairo, since "the fundamental questions connected with the strategy and tactics of the world oil cartel will be on the agenda of the forum with a view to stabilising the situation at the world raw materials markets." The minister said this to RIA Novosti when he arrived in Cairo to take part in the work of the extraordinary OPEC meeting. Abd al-Sabah believes that the decisions of the Cairo extraordinary meeting will directly depend on the "similar steps to be taken by the states -- major oil producers which are not OPEC members." The Kuwaiti minister pointed out that a long way should be covered before promises will be fulfilled. According to him, "in spite of the fact that it will be very difficult to make an unanimous decision, as it is stipulated in the charter of the world oil cartel, it will finally be made and will serve the interests of the world oil market, including the interests of oil consumers which come out for an uninterrupted export of oil delivered by the OPEC countries and other major independent oil producers. It is known that five countries which are not OPEC members, that is Russia, Norway, Mexico, Oman and Angola, declared their intention to slash down their total export quotas by almost 500,000 barrels a day, beginning in January 2002.