TEHRAN (PIN) – Iran’s Ambassador to Saudi Arabia Mohammad Hosseini said yesterday that President Mahmud Ahmadinejad will arrive in Riyadh, Saudi Arabia, on Saturday to take part in the Third OPEC Summit on November 17.

""The Iranian president will confer with heads of state and officials of the OPEC member states on regional and international developments and expansion of bilateral relations, on the sidelines of the summit,"" Hosseini told IRNA.
Hosseini said heads of 12 oil producing and exporting countries will in the Riyadh session discuss the supply mechanism, environment protection, and promotion of mutual cooperation.
He said prior to the summit, foreign, finance, and oil ministers of OPEC member states will hold meetings to coordinate and finalize the summit statement.
He emphasized that the Riyadh session is of special significance given unprecedented fluctuations and increase in oil prices over recent weeks.
The First OPEC Summit was held in Algeria in 1975.
Iran, Saudi Arabia, Algeria, Iraq, Kuwait, Angola, Libya, Nigeria, Qatar, the UAE, and Venezuela are the 12 OPEC members.