Oil Continues to Fall, and OPEC Isn't Helping
OPEC floats an emergency meeting. There are reasons for doubt
Why Oil Prices Have Not Yet Hit Bottom
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It was another down day in the oil market: Crude prices fell more than 2 percent, with WTI finishing Feb. 23 below $50 a barrel for the first time in almost two weeks.
For a moment, things looked like they might go the other way. OPEC President Diezani Alison-Madueke said in a Financial Times report that she would call an emergency meeting of OPEC if prices continue to fall. Oil prices were buoyed by the news—briefly—until they fell again.