OPEC Considers Urgent Meeting as Saudis Create New Oil Blend

OPEC members are discussing whether to hold an emergency meeting to consider increasing oil production, Kuwait’s oil minister said.

“I’ve talked to Abdalla El-Badri in this regard, and he is calling everybody and making a consensus on whether we’ll need an OPEC meeting, an urgent meeting,” the Kuwaiti minister Sheikh Ahmad al-Abdullah al-Sabah told reporters in Kuwait City today. El-Badri is the secretary general of OPEC. “We have to find out at the meeting whether there is a need for an increase or not,” the Kuwaiti minister said.