Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia, led his country's delegation to OPEC's 166th ministerial meeting held in the Austrian capital of Vienna today. The conference was chaired by Libyan Deputy Prime Minister for Commission's Affairs Abdulrahman Al-Ehairesh. During the meeting, the agenda discussed included the cartel's budget, environment-related issues and climate change. Nigeria's Minister of Petroleum Diezani Allison Madueki was chosen chairman of the conference and Qatari Minister of Energy and Manufacturing Dr. Mohammed bin Saleh Al-Sadah was elected alternative president of the conference for the year 2015. Following a thorough discussion taking into consideration the demand and supply, prices, increasing production from outside OPEC, the situation of the international economy, the meeting decided to keep the current ceiling of production amounting to 30 million bpd, urging the organization to continue monitoring the market strictly and be ready to take whatever decision in need. The next meeting will be held in Vienna on 5 June 2015.
