Saudi Arabia, the United Arab Emirates and Kuwait are planning to meet on Saturday (June 2) to discuss OPEC matters, Bloomberg reported, citing sources.
Saudi Energy Minister Khalid Al-Falih will meet with Kuwait’s Bakheet Al Rashidi and the UAE’s Suhail Al Mazroui — the holder of OPEC’s rotating presidency — in Kuwait City, according to people with direct knowledge of the matter.
Oman’s oil minister Mohammad Al Rumhi may join, they added.
The meeting comes a week after Saudi Arabia and Russia announced a new policy to revive oil production by some one million barrels per day after US President Donald Trump complained about "artificially" high prices.
The OPEC and non-OPEC member Russia started withholding supplies in 2017 to prop up prices, which fell to a more than a decade low of under $30 per barrel in 2016.
The OPEC and non-members are slated to meet by end-June in Vienna to discuss the output cuts agreement.
Meanwhile, oil prices inched down on Wednesday. Brent crude was trading down 0.52 percent at $75.00 per barrel (bbl), while US West Texas Intermediate (WTI) crude futures fell 0.427 percent to $66.55/bbl.
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