OPEC-EU dialog essential to world economy: OPEC chairman

Chairman of the Organization of Petroleum Exporting Countries (OPEC) Sheikh Ahmad Al-Fahad said on Friday that continued dialogue between OPEC and European Union (EU) is essential to world economic stability, Kuwait's official KUNA news agency reported.

Sheikh Ahmad, also Kuwaiti energy minister, was quoted as saying that such a dialog is progressing to more and more sensitive stages and would continue amid the global anxiety over oil supply and world economic growth.

The dialog will mainly focus on the rising European demand for oil and crude oil, he said, adding "We encourage partnership whether in construction of refineries or in the oil industries."

"This is not the sole responsibility of oil states but one shared equally by both the producers and the consumers and world oil corporations," he stressed.

An OPEC delegation headed by Sheikh Ahmad is expected to meet with EU representatives in Vienna, Austria, on Friday.

Source: Xinhua