Iran says an OPEC emergency meeting may stop oil price slide

OPEC is not due to meet until Dec 4 but Algeria has called for an emergency meeting
Iran says an OPEC emergency meeting may stop oil price slide
Irans oil minister, Bijan Namdar Zanganeh (Getty Images)
By Reuters
Mon 24 Aug 2015 10:22 AM

Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an OPEC emergency meeting may be "effective" to stop the oil price slump, Iran’s oil ministry news agency Shana reported.

"Iran endorses an emergency OPEC meeting and would not disagree with it," he told reporters in Tehran, according to Shana.

OPEC is not due to meet until Dec 4 but Algeria has called for an emergency meeting.

While OPEC rules say a simple majority of the 12 OPEC members is needed to call an emergency meeting, some OPEC delegates say unless Saudi Arabia is among those in favour no meeting is likely.

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