Oil Producers Summit Planned for March 2

Key global oil policymakers Venezuela, Mexico and Saudi Arabia will meet March 2 in London to discuss high oil prices and make recommendations for the formal meeting of the OPEC oil cartel, Venezuela’s Energy and Mines Minister Ali Rodriguez said. The meeting will reunite the three countries that designed a series of drastic export reductions starting in March 1998, which sent world prices soaring to their highest level in nine years last week. The current export curbs expire March 31, and some in OPEC have argued that they should be extended until October, when there is normally a seasonal rise in demand.