Baku. 24 December. REPORT.AZ/ OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next year, Suhail al-Mazrouei, OPEC President, the United Arab Emirates’ energy minister, said on Sunday, Report informs referring to Reuters.
“The plan (to cut oil production) is well studied but if it does not work, we always have the power in OPEC to call for an extraordinary meeting,” he added.
“If we are required to extend for (another) six months, we will do it... I can assure you an extension will not be a problem.”