Saudi minister of petroleum arrives in Vienna to attend OPEC ministerial meeting

Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia Ali bin Ibrahim Al-Naimi arrived here today, to lead the Saudi delegation to the 164th ministerial meeting of OPEC scheduled to be held here tomorrow. In a press statement to Saudi Press Agency (SPA), he said the situation in the world oil market, for the time being, is stable and balanced regarding supply and demand, alike, in addition to the trading stockpiles and that the prices are at suitable level for the producers, consumers and the industry. Asked about the possible decisions the meeting might take as regards the price of oil, Al-Naimi said it is difficult to speak right now about such expectations as the meeting will take the right decision on whatever is required in accordance with information and future forecasts, at avail.