Oil officials of four lands weigh OPEC output cuts
Jiddah, Saudi Arabia
Oil ministers from four Arab OPEC countries gathered in the Saudi capital of Riyadh Tuesday for an emergency meeting to lay the basis for what industry sources said were production cuts to confront the emerging glut of crude oil.
The emirates news agency WAM reported that the United Arab Emirates oil minister left for Riyadh to take part in an "emergency meeting" that would also be attended by the oil ministers of Qatar, Kuwait, and Saudi Arabia. The four Arab oil states account for roughly 50 percent of the Organization of Petro leum Exporting Countries' daily output.