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OPEC summit closes in Saudi Arabia
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The Organization of Petroleum Exporting Countries (OPEC) closed its two-day third summit meeting in Riyadh Sunday afternoon after adopting a final declaration.


The leaders from the OPEC countries pledged to provide "adequate, timely and sufficient" oil supplies to the market and voiced concern about global climate change.


The final declaration of a summit of its heads of state also said that it recognized the importance of energy in fighting poverty, but it made no mention of the weak dollar.


The third OPEC summit in the organization's 47-year history opened in Saudi Arabia's capital Riyadh on Saturday afternoon amid surging oil prices, which was presided over by host Saudi King Abdullah Bin Abdul Aziz al-Saud.


During the OPEC summit meeting Sunday, Ecuador rejoined the oil cartel 15 years after its withdrawal and became the new comer of the OPEC which has had 12 other member states of Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates (UAE) and Venezuela.


(Xinhua News Agency November 19, 2007)

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