OPEC states oppose group emergency meeting

Gulf OPEC members, including Saudi Arabia, oppose a call on the Organisation of  Petroleum Exporting Countries to hold an emergency meeting to discuss prices, delegates said yesterday, two days after the group’s president sent member countries a request by Iran to meet. “If we were to call for a meeting it would be to discuss oil prices, but right now prices are rebounding and will likely to rise further due to the political tensions with Iran and the economic situation in Europe,” a Gulf OPEC delegate said. “Right now we don’t see any need or worry to hold an emergency meeting.” OPEC president, Iraqi’s oil minister, Abdul Kareem Luaiby, has sent member states a request by Iran to hold an emergency meeting of the producer group to see their opinion, Iraqi OPEC governor Falah Alamri said on Saturday. Iran’s oil minister, Rostam Ghasemi, a week ago called for an emergency OPEC meeting to cut output after oil prices fell below $100 a barrel. “We have received a letter from the Iranian minister and the president of OPEC's conference sent it to [the] secretary general in order to send it to member states to see their opinion,” Alamri told Dow Jones Newswires. from gulf times.