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Kuwait denies emergency OPEC meeting

Jan. 5, 2009 at 4:43 PM   |   Comments

KUWAIT CITY, Jan. 5 (UPI) -- Kuwaiti officials Monday denied Iranian allegations the Organization of Petroleum Exporting Countries was planning additional quota meetings for February.

Mohammed Ali Khatibi, the Iranian governor to OPEC, said the cartel may meet Feb. 19 to discuss the market effects of the latest round of production cuts announced December in Algeria.

Kuwaiti officials denied the allegations Monday, saying the impact would be assessed at the next scheduled meeting March 15 in Vienna, the Platts news service said.

The Kuwaiti government expects to meet with several OPEC ministers on the sidelines of a Jan. 19 Arab economic summit, however, to review market reactions to the 2.46 million barrel per day January production cuts.

Kuwait said Monday it had met its obligations under the January production cuts, saying reductions of 375,000 bpd were on target.

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