WORLD : Saudis Seek OPEC Crisis Parley
The government of Saudi Arabia today called for an emergency meeting of the Organization of Petroleum Exporting Countries to discuss how to deal with the market situation in light of the Iraq-Kuwait crisis.
Saudi Oil Minister Hisham Nazir said the kingdom and other unidentified members of the cartel “have asked for an immediate OPEC meeting to discuss a unified decision on dealing with conditions of the market.”
No date or site for the meeting were announced.
The minister, in a short official statement, denied that the kingdom had notified any of its customers of cutbacks in oil supply for September. Industry sources had said Wednesday that the Saudis were cutting allocations to large customers by 15% next month.
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