Oil below $40 but could OPEC stop the rout?

Oil below $40 but could OPEC stop the rout?

Oil below $40 but could OPEC stop the rout? As the price of West Texas Intermediate drops below $40 again there is a glimmer of hope that the OPEC countries could be about to curb production. Iran’s oil minister Bijan Zanganeh said Sunday that his country supports an emergency meeting of the group, echoing the feeling of Algeria. He said that a meeting could be effective in taking action to stabilize prices. The next scheduled meeting is at the start of December but if a majority of the 12 members want one there will be an interim conference.