OPEC considers holding an emergency meeting

11:30, 30 January 2020

The spreading of the Coronavirus has become a topic in OPEC's agenda since it's started taking a toll on crude oil prices.

Some members are considering moving the meeting scheduled for March as soon as February. WTI crude oil has lost more than 14% since the beginning of the year. 

According to the Algerian Energy Minister, a decision will be announced in the following days. Another inside source disclosed that the group might even meet as early as next week.

OPEC and its allies were scheduled to meet March 5-6 to discuss details about the future of oil-production cuts that expire at the end of March. The markets expect an extension or even an increase in production cuts.

Source: investing.com

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