Kuwait- Oil market situation risky for producers, consumers - Min.
Date
9/27/2016 1:08:27 AM
(MENAFN- Kuwait News Agency (KUNA)) TEHRAN, Sept 26 (KUNA) -- Iran's Oil Minister Bijan Zangeneh described the current situation of the world oil market as risky for producers and consumers in both the long run and short run.
The recent decrease in the volume of global investments in energy industry has negatively impacted consumers in the long run, Zangeneh told reporters before departing to Algeria to attend the 15th International Energy Forum (IEF).
The Algeria's meeting will be consultative and preparatory for OPEC's regular meeting, which is slated for November, he said, adding that representatives of major non-OPEC oil producers are to take part in the meeting.
Their participation would create an opportunity for consultation on world oil market stability, the Iranian minister said, reiterating his country's support to any plan that leads to stabilizing the world market. (end) fz.ma
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