After declining nearly 14% year-to-date, crude prices stabilized on Friday at around $ 53 per barrel. An emergency meeting of the cartel is not excluded if their withdrawal were to increase in the days to come.
Unacceptable. The Organization of Petroleum Exporting Countries (OPEC) will not stand idly by in the face of the plunge in the price of black gold. Through the voice of its president, Emirati Mohamed al-Hamli, the cartel made it clear that measures will have to be taken if the decline in crude prices continues in the days to come.