OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls | WHAT REALLY HAPPENED


OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls

Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue to fall.

Reuters reports, citing the oil minister of the UAE, that OPEC is prepared to call an extraordinary meeting as it enters “whatever it takes” mode yet again.

Earlier this month OPEC, Russia and nine more producers agreed to reduce their combined oil output by 1.2 million barrels daily, with OPEC’s share at 800,000 bpd. However, the news failed to impress a market worried about global economic growth and consequently crude oil demand.

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