Ibe Kachikwu: in Doha

He is attending Sunday’s crucial Oil-Producing Countries Ministerial Meeting convoked to seek remedy to the lingering decline in the price of crude oil in the international market.

Preliminary meetings among top oil producing ministers commenced today, the NNPC said in a statement by Garba Deen Muhammad, group public affairs general manager.

The preliminary talks will explore practicable measures to strike a balance between supply and demand of crude oil with a view to arresting the decline in oil price.

Sunday’s crucial meeting is expected to be attended by ministers of the 12-member Organisation of the Petroleum Exporting Countries, OPEC, made up of Saudi Arabia, Iran, Iraq, Kuwait, Qatar, Venezuela, Libya, Nigeria, United Arab Emirates, Angola, Algeria and Indonesia.

Russia leads non OPEC member countries from Mexico, Bahrain and Oman.