Oil producers, consumers hold round-table discussion in Cairo

(With photos)

CAIRO, Nov 30 (KUNA) -- Round-table discussions for oil producers and consumers, organized by the World Energy Forum (WEF) and Organization of Arab Petroleum Exporting Countries (OAPEC), commenced its meetings on Thursday with the participation of 15 countries.

Kuwait is represented at the meetings by Minister of Energy Sheikh Ali Al-Jarrah Al-Sabah.

At the inauguration, Egyptian Petroleum Minister Sameh Fahmy said such direct talks between producers and consumers of oil and gas would help stabilize the market and curb prices and allow for better future planning.

He stressed the importance of guaranteeing energy supplies on a global level, especially in light of the hike in oil prices despite production increase to keep up with continued growth in demand.

The minister pointed out that oil prices directly affected industries.

For his part, energy advisor at the European Union Fawzi bin Sarsa said the holding of this in Egypt came to note its role in supporting oil market stability, adding that there were important oil-related issues that needed to be discussed, namely prices and demand.

The two-day round-table discussions aim to open dialogue channels between oil producers and consumers and place applicable plans to stabilize oil prices.

The event is being held on the sidelines of the 77th meeting for the Ministerial Council of the Organization of Arab Petroleum Exporting Countries (OAPEC) scheduled to be held on Saturday.

Participating in the meeting are 15 ministers and representatives from OAPEC, the EU, and the World Energy Forum.