Norwegian Oil Minister to Meet Mexico, Venezuela Peers

Norwegian Petroleum and Energy Minister Einar Steesnaes will be meeting with his counterparts from Mexico and Venezuela later this month, a department spokesman said Thursday. The minister will meet Felipe Calderon in Mexico October 24 and Venezuela's Rafael Ramirez a few days later.

However, no specifics were given on what the Norwegian minister would be discussing with the two ministers, saying they would be talking about a "range of issues that are of interest to the petroleum market." The Norwegian minister, speaking through his spokesman, also reiterated statements made last week that Norway has no plans to cut production.

"In the current situation with the oil price above $25 a barrel and the market well-balanced, there is no reason for Norway to consider regulation of production, " Steesnaes said.