TEHRAN President Seyed Mohammad Khatami in a telephone conversation with Prince Abdullah of Saudi Arabia discussed the declining oil prices with him. He discussed coordination among the members of the Organization of Oil Exporting Countries (OPEC) to prevent further decline of oil prices. Expressing Iran's stance and concern over declining oil prices, the president emphasized the need for an appropriate step in the next OPEC session.

Prince Abdullah on his part underlined the need for coordination among the OPEC members in the upcoming OPEC session.