OPEC rift widens as group fails to set date for emergency talks - Reuters

OPEC rift widens as group fails to set date for emergency talks - Reuters:

A rift in the Organization of the Petroleum Exporting Countries (OPEC) has widened after members failed to agree unanimously on an emergency low-level meeting to discuss a market collapse that has seen global oil prices hit 18-year lows.

OPEC president Algeria, which has been instrumental in organizing the producer group’s efforts to support the market, had been among the members pushing for a gathering of OPEC’s Economic Commission Board (ECB) in April.

But at least four members, including OPEC’s de facto leader Saudi Arabia, the United Arab Emirates, Kuwait and Nigeria, have made clear they see no need for such a meeting, four sources with knowledge of the matter said on condition of anonymity.

One OPEC source said Kuwait had not received an official invitation to join the meeting, and does not consider a meeting necessary.