No. 20



Riyadh Group Expresses Satisfaction At Current Market Conditions But Leaves Door Open For Future Action

In a joint statement released on 11 May, the oil ministers of Mexico, Saudi Arabia and Venezuela (the Riyadh Group) said they were satisfied with the effects of the latest output increases agreed at the OPEC meeting in March. The three ministers, Luis Tellez, Ali al-Naimi and Ali Rodriguez, said after two days of discussions in Cabo San Lucas in Mexico that...