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Kuwait welcomes Saudi call for oil meeting to discuss soaring prices

Kuwait welcomes Saudi call for oil meeting to discuss soaring prices

Kuwait's oil minister has welcomed Saudi Arabia's call for a meeting of oil producers and consumers to discuss ways of dealing with soaring energy prices.
Mohammed al-Eleim says consumers and producers have to talk because they are "in the same boat." He did not elaborate.
But he reiterated to reporters Tuesday that record high prices of oil were not caused by market fundamentals.
The government of Saudi Arabia, the world's largest oil producer, announced Monday it was calling for the meeting in the near future. The gathering will also include oil companies.
Light, sweet crude for July delivery traded at US$134.62 a barrel by noon Tuesday in Europe in electronic trading on the New York Mercantile Exchange.


Updated : 2020-12-02 15:53 GMT+08:00