Is OPEC likely to call an extraordinary meeting?

We doubt that there will be an extraordinary meeting of OPEC anytime soon and, even if there is, policy is unlikely to change. The cartel’s current strategy of tolerating price falls to protect market share over the longer term appears to be working. Indeed, prices have started to recover. OPEC’s most powerful member, Saudi Arabia, has also signalled it is relatively happy with the current situation.

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