Deputy Custodian of the Two Holy Mosques Prince Abdullah Bin Abdul Aziz today presided over

the regular weekly meeting of the Council of Ministers, which expressed satisfaction at

efforts being exerted by the member states of the Organization of Petroleum Exporting

Countries (OPEC) and by non-OPEC producers, to realize stability in international oil

markets.

The cabinet was briefed on the outcome of the meeting in Jeddah last week between Minister

of Petroleum and Mineral Resources Ali Bin Ibrahim Al-Naimi and the oil ministers of

Algeria and Iran. Both of these countries share the Kingdom's view on supporting the

current quotas of oil production and adhering fully to the agreement that reduced

production should continue until March 2000. The cabinet was also briefed on the outcome of

the meeting in Riyadh last Saturday of the oil ministers of the Gulf Cooperation Council

(GCC).
Addressing the cabinet, Crown Prince Abdullah referred to the upcoming celebration of the

Kingdom's National Day on Thursday, September 23, 1999, and stated that the people of Saudi

Arabia are currently harvesting the fruits of the endeavors of King Abdul Aziz, the

Kingdom's founder, and enjoying the security, stability and prosperity he established.

Crown Prince Abdullah told the cabinet that the Saudi people should not only take note of

King Abdul Aziz's accomplishments, but make the effort to strengthen and enhance what he

set up, following his correct path in order to realize greater progress and development for

the benefit of the nation and its citizens. He went on to confirm that under the leadership

of Custodian of the Two Holy Mosques King Fahd Bin Abdul Aziz the Kingdom is proceeding

along the path of advancement and progress on a par with any of the advanced countries in

today's world.

Return