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New Delhi, June 20 The Finance Minister, Mr P. Chidambaram, and the Petroleum Minister, Mr Murli Deora, will attend the meeting of oil producers and consumers called by Saudi Arabia in Jeddah on June 22 to discuss the rising crude oil prices. A senior Petroleum Ministry official said the ministers are being accompanied by a high level delegation that includes the Managing Director of ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC.

Mr Deora would use the opportunity to exploit international business opportunities for OVL, the official said. Saudi Arabia has invited ministers from petroleum producing and consuming nations and oil majors like Chevron Corp, Exxon Mobil Corp, ConocoPhillips, and Total.

The meeting seeks to identify causes and consequences of the recent price behaviour and will suggest areas of improvement for the efficient operation of the oil market. In view of the serious situation affecting the oil market the meeting is expected to benefit from the views from all sides of the industry across the world, the official said.

Meanwhile, Mr Deora has written to the Saudi Oil Minister Mr Ali I. Naimi seeking a hike in Organisation of Petroleum Exporting Countries output ahead of the meeting.

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