'Perfect price' for oil hailed
Ministers say there was no need for the Opec to change its output targets
Top oil exporter Saudi Arabia on Sunday described the current oil price as stable and "perfect" for consuming and producing nations as he led talks in Cairo with other Arab oil ministers.
With oil around $75 a barrel, ministers said there was no need for the Organisation of Petroleum Exporting Countries (Opec) to change its output targets when it met in Angola later this month.
"Everything is very good now," Saudi Arabian Oil Minister Ali Al Naimi told reporters at a meeting of the Organisation of Arab Petroleum Exporting Countries (Oapec), which brings 10 producer nations, seven of which are also members of Opec.
"Inventories are coming down, the price is perfect and investors, consumers, producers are all very happy," he added.
"There is nothing to worry about."
