Qatar will host OPEC meeting on Thursday

October 16, 2006 01:53

Qatar confirmed Sunday that it will host a meeting of the Organization of Petroleum Exporting Countries on Thursday. Qatar's Energy Minister Abdullah bin Hamad al-Attiyah told reporters that ministers at the OPEC meeting would review the market situation and discuss production quotas. Al-Attiyah told the Qatar News Agency that OPEC members also will talk about "the possibility of reducing total oil output by 1 million barrels a day to stop any further decline in prices." Last week, OPEC President and Nigeria Oil Minister Edmund Daukoru said members had agreed to trim global production by 1 million barrels a day to boost prices. At the time, Daukoru also said the group was considering holding an emergency meeting to discuss how to share the cuts.

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