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Gulf energy ministers meet in Riyadh

Oil markets are on the way to being re-balanced, says Saudi Arabia's Energy and Industry Minister Khalid Al-Falih

Wael Mahdi & Anthony DiPaola 

Energy ministers from five Arab Gulf oil-producing nations met Sunday to discuss efforts to stabilise crude markets amid Opec’s drive to enlist Russia’s cooperation in limiting output to prop up prices. Ministers from Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates gathered in Riyadh for oil talks at the offices of the Gulf Cooperation Council secretariat. Russian Energy Minister Alexander Novak was also to visit the Saudi capital on Sunday and was expected to speak at a news conference to be held after the GCC talks. Oman was the only one of the GCC’s six ...

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First Published: Mon, October 24 2016. 00:00 IST