OPEC To Call Extraordinary Meeting for Sunday
OPEC will hold an extraordinary ministerial meeting on Sunday at its headquarters in Vienna. The next meeting of the cartel was not due until March 11, but there have been signs it could soon raise output to counter a supply shortage.
The strongest signal has come from OPEC member, Saudi Arabia, whose Foreign Minister Prince Saud al-Faisal said the kingdom favored a production increase to bring down prices, without specifying a figure. "The price has risen, and there should consequently be an increase in production," Prince Saud said.