Kuwait, Saudi Arabia Urge OPEC to Stabilize Oil Output

Kuwait, Saudi Arabia urge OPEC to stabilize oil output

KUWAIT CITY, March 6 (Xinhua) — Kuwait and Saudi Arabia on Monday called upon the Organization of Petroleum Exporting Countries (OPEC) to stabilize production at current levels and help cool off oil prices.

Before departing for an OPEC meeting in Vienna, Kuwaiti Energy Minister Sheikh Ahmad Fahd al-Sabah told reporters that the cartel should maintain its current output ceiling of 28 million barrels per day to help stabilize the prices.

Meanwhile, in an interview with Saudi-owned Pan-Arab daily on Monday, Saudi Oil Minister Ali al-Nuaimi also said his country is opposed to cutting oil production.

Nuaimi said he would discuss the issue with other counterparts in the 11-nation group.

OPEC oil ministers are to meet on Wednesday in Vienna.