Oil producers meet in Riyadh to discuss Libya-Italy govt source

Tue Feb 22, 2011 1:10pm GMT

ROME Feb 22 (Reuters) - Oil producing countries met informally in Riyadh on Tuesday to discuss a possible OPEC meeting to consider increased production because of the Libya crisis, an Italian government source told Reuters on Tuesday.

The source said the oil producers were worried by the activity of price speculators.

"There are informal meetings of oil producing countries under way in Riyadh to evaluate the situation ... and decide whether to call an official meeting of OPEC to discuss whether to increase production," the source said.

(Reporting by Alberto Sisto)

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