OPEC members haven’t called for an emergency meeting and are holding consultations to discuss the market and general situation, Kuwait’s oil minister said.
“Take it from me, OPEC did not ask” for an unscheduled meeting, Sheikh Ahmad al-Abdullah al-Sabah said today in an interview in Kuwait City. “We’re holding consultations, not for the meeting, but on the consensus of the market because of supply and demand, or the political reasons.”
Members of the Organization of Petroleum Exporting Countries are discussing whether to hold an emergency meeting and any decision on increasing production would be taken then, Sheikh Ahmad said March 8. The group currently has no meeting planned aside from a conference already scheduled for June, an OPEC official said later the same day.
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