Earlier, Nigerian oil minister Emmanuel Ibe Kachikwu said a number of the OPEC members, such as Venezuela, have asked for an emergency meeting following the continuation of a downward trend in oil prices which has brought them down to an 11-month low of about $30 per barrel.
Kachikwu said an emergency meeting is aimed at studying OPEC policies and the necessity of initiating any strategic changes.
This is while, Emirati Energy Minister Suhail Mohammed Faraj Al Mazroui has disagreed with implementing any strategic changes in OPEC policies, approving of the efficiency of the organization’s current policy.
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