OPEC’s Daukoru `Very Concerned’ About Oil Price Drop

OPEC President Edmund Daukoru said he’s “very concerned” about the drop in oil prices, putting him at odds with ministers from member countries including Saudi Arabia and Algeria.

“We need to review it in depth,” Daukoru, who is also the Nigerian oil minister, told reporters today as he arrived in Vienna for a meeting next week of the Organization of Petroleum Exporting Countries. “We don’t know how much further it can go. I am very concerned.”
“We are very happy with the situation as it is,” Saudi Arabian Oil Minister Ali al-Naimi said as he arrived in Vienna. “Stocks are pretty good, the economy is doing well and prices are high,” said Chakib Khelil, Algeria’s oil minister. “I imagine we are not going to do anything, and keep the ceiling.”

Bloomberg