7th meeting of ministers of OPEC, non-OPEC countries launches in Vienna

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Sat, 07 Dec 2019 - 01:11 GMT

OPEC  headquarters - Creative Commons via Wikimedia

OPEC headquarters - Creative Commons via Wikimedia

VIENNA, Dec 4 (MENA) - The 7th meeting of Ministers of OPEC and non-OPEC countries kicked off on Friday, under the co-chairmanship of Saudi Arabia and Russia.

The Vienna-hosted meeting is the third ministerial one in a row since Thursday.

The meeting was attended by Saudi energy Minister Abdulaziz bin Salman bin Abdulaziz al Saud, his Russian counterpart Alexander Novak, OPEC Secretary-General Mohammad Barkindo, as well as Venezuelan Energy Minister and Head of the meeting Juan Pablo Perez Alfonzo.

"We are working to achieve sustainable development of the economic growth and to strike a balance between supply and demand in the oil market, the Saudi minister said.

He added that oil producers have continued negotiations to reach the best form of the joint cooperation agreement.

The meetings were attended by 24 representatives of OPEC member states to announce cooperation between OPEC and non-OPEC countries.

Meanwhile, Brazil and South Sudan participated in the inauguration of the conference for the first time as observers.

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