Iran says an OPEC emergency meeting may stop oil price slide

Baku. 24 August. REPORT.AZ/ Holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's Oil Minister, Bijan Zanganeh said, Report informs citing foreign media.

"Iran endorses an emergency OPEC meeting and would not disagree with it," Zanganeh told reporters in Tehran.

Algeria said earlier this month that the Organization of Petroleum Exporting Countries could hold an emergency meeting to discuss the drop in oil prices but other OPEC delegates said no meeting was planned.

U.S. oil prices CLc1 fell below $40 a barrel on Friday for the first time since the 2009 financial crisis, pressured by signs of oversupply in the United States and weak Chinese manufacturing data.

OPEC is not due to meet until Dec. 4.