An OPEC meeting in Beirut early June will discuss a Saudi oil output increase proposal, UAE Minister of Petrleum and Mineral Resources Obeid bin Saif Al Nasiri revealed in Abu Dhabi Tuesday.

Al Nasiri made the remarks during a meeting with a French ministerial delegation, which is visiting the United Arab Emirates (UAE), official WAM news agency reported.

Al Nasiri told the French delegation that the UAE and other OPEC countries were concerned about the stability of the market and were keen to achieve price stability and get a fair price.

He noted that the current oil prices is at 40-41 US dollars per barrel and the real price is 25 dollar per barrel if the factors of inflation and reduction of the US Dollar rate were taken into consideration.

The talk about output increase in World Energy Forum, or in the OPEC meeting in Beirut should be within the limits of production ceiling, Al Nasiri said, adding that any increase should reflect the world demand.

He noted that the OPEC has the intention of increasing oil production, adding that higher prices would have a negative impact on world economy.

"We are very much concerned about the world economy, knowing that whatever happens to the world economy will affect us either positively or negatively," Nasiri stressed.

Source: Xinhua