Saudi, Russian oil ministers meet in Doha: Qatari official
Saudi, Russian oil ministers meet in Doha: Qatari official
February 16, 2016 | 12:15 PM
Ali Al-Naimi
February 16, 2016 | 12:15 PM
Last Updated: February 16, 2016 | 12:15 PM
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DOHA — The Russian and Saudi oil ministers met Tuesday in Doha to discuss the global supply glut that has sent prices plunging, a Qatari official said.
The oil ministers of Venezuela and Qatar also attended the talks, the official said.
News of the meeting between Saudi Arabia's Ali Al-Naimi and his Russian counterpart Alexander Novak pushed up oil prices on world markets, with European benchmark Brent crude rising above $34 a barrel.
Oil prices have tumbled about 70 percent since June 2014, hit by oversupply, sluggish demand and worries about the global economic outlook.
At around 0600 GMT on Tuesday, Brent crude for April delivery was trading $1.30, or 3.89 percent, higher at $34.69 a barrel.
US benchmark West Texas Intermediate for March delivery was up $1.30, or 4.42 percent, at $30.74. — AFP