Cairo: Arab ministers of the Organisation of Petroleum Exporting Countries (Opec) began arriving in Cairo yesterday ahead of talks expected to broach how high an oil price the world economy can stand as the market hovers near two-year peaks of more than $90 a barrel.
A full conference of Opec this month elected to make no change to an output policy it has upheld since December 2008.
Since then, oil has maintained a more than 30 per cent rally from this year's low in May and this week scaled a high of $90.80, the steepest in two years.
The Organisation of Arab Petroleum Exporting Countries (Oapec) brings together the Arab members of Opec, including top exporter Saudi Arabia, which has been viewed as a price moderate.
Ministers began arriving yesterday in time for tomorrow's meeting when they will not make a formal decision on output, but discuss production and price.
"About $100 would be a fair price for the time being," Libya's most senior oil official Shokri Ganem told Reuters.
Analysts have said the likelihood is the strong price would encourage Opec to produce more oil.
