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OPEC Secretary General- HE Abdalla Salem El-Badri

OPEC Signals Willingness to See $40 a Barrel

Published at 02:04PM - 15/12/14

The most influential oil-producing countries in OPEC have suggested that they will be willing to see oil prices drop to just $40 a barrel before they consider cuts to production output. According to the UAE's Energy Minister, Suhail al-Mazrouei, who is one of the most high-profile members of the oil cartel, the group will not be inclined to change is decision simply because prices fall to $60 or $40.