OPEC may meet early if oil drops below $40: report

LUANDA (Reuters) – OPEC could meet before March if Brent crude oil prices fall to below $40 per barrel, the group’s president was cited by Angolan weekly newspaper O Pais as saying.

Although Jose Botelho de Vasconcelos said he only expected the next gathering of the 12-member Organisation of the Petroleum Exporting Countries to take place, as planned, in Vienna on March 15, he added the group could meet sooner if oil prices suddenly dropped.


Asked whether a fall in the price of Brent crude oil to below $45 per barrel would trigger an OPEC meeting before March, he replied:

“We admit it could happen if (oil prices) drop below $40.”

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