OPEC countries feeling very uncomfortable

Livewire News

Livewire

OPEC countries feeling very uncomfortable. Brent crude has slipped back beneath $US60 a barrel - and West Texas Intermediate beneath $US50 a barrel - as oil producers consider holding an emergency meeting to stabilise prices... Members of the Organisation of Petroleum Exporting Countries have discussed holding an emergency meeting if crude continues to slide, according to Nigeria's oil minister Diezani Alison-Madueke. Almost all OPEC countries, except perhaps the Arab bloc, are very uncomfortable, said Ms Alison-Madueke, who as president of OPEC is responsible for liaising with member countries and the producer group's secretary-general in the event of an emergency meeting. If the price slips any further it is highly likely that I will have to call an extraordinary meeting of OPEC in the next six weeks or so, she said in an interview with the Financial Times. We're already talking with member countries. But market analysts say it is highly unlikely that Saudi Arabia, OPEC's de facto leader, will agree to such a meeting.


Livewire News
Livewire News
Livewire

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment