Ministers of oil and energy representing the member states of the Organization of Arab Petroleum Exporting Countries (OAPEC) held their annual meeting here on Thursday.

Kuwait's Minister of Electricity and Water, and Minister of Oil Essam Abdulmohsen Al Marzouq presided over the 97th meeting in presence of OAPEC Secretary General Abbas Ali Al Naqi.

The participants also included representatives from Egypt, Saudi Arabia, UAE, Qatar, Iraq, Algeria, Libya, Bahrain and Kuwait.

Egypt's Petroleum Minister Tareq el Mulla asserted the importance of continued coordination between member states of huge potentials to increase cooperation fields in oil and energy sectors. 

Naqi, in his speech, appreciated Egypt's role in hosting the meeting, explaining the factors that negatively affect the global price levels in the oil market such as growing oil reserves and global supplies along with declining demands.

Source: MENA