Six oil producers agree on emergency meeting, Iran's Shana says
Six OPEC member states and two non members would be open to attending an extraordinary meeting if one is called, Venezuela’s oil ministry said after oil minister Eulogio Del Pino held talks in Iran on Wednesday, according to Bloomberg.
Iraq, Algeria, Nigeria and Ecuador would join OPEC members Iran and Venezuela and non-OPEC producers Russia and Oman if talks are scheduled, the South American country’s oil ministry said in an e-mailed statement.
“The idea is to not just hold a meeting, but for all the countries to attend with the intention of reaching agreements,” Del Pino said in the statement. “Current prices are below equilibrium, and that encourages the speculators and market instability.”
Venezuela’s President Nicolas Maduro, seeking to mitigate the impact the decline in oil prices is having on the country’s economy, sent Del Pino on a tour of oil producers. After Russia and Iran, he is planning to visit Qatar and Saudi Arabia, the world’s largest oil exporter.