OPEC to address falling oil prices at special meeting

The Organization of Petroleum Exporting Countries will discuss the recent drop in oil prices at an extraordinary meeting, tentatively slated for Apr. 24 in Vienna, OPEC Pres. Abdulla Bin Hamad al-Attiyah said last week.At an Apr. 7 press conference in Paris with France's Industry Minister Nicole Fontaine, Al-Attiyah said OPEC would not wait the self-prescribed 20-day period before taking compensatory measures if oil prices fall below the group's targeted range of $22-28/bbl for an OPEC basket of crudes.At their last meeting on Mar. 11, OPEC members voted to maintain a 6.5% production quota set in January as oil prices exceeded their $28/bbl cap, often by significant amounts, from ...

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