U.S. News

OPEC to Consider Emergency Meeting on Oil Prices: WSJ


OPEC ministers will consider the need for an emergency meeting in response to the recent plunge in oil prices, a report said Thursday.

The oil-producing cartel did not indicate whether it will mull more cuts in addition to the 1.7 million barrels a day it has already said it will will eliminate. OPEC also is considering asking other major producers from outside the organization to cut their output, the Wall Street Journal reported on its Web site.

In Thursday trading, oil prices slumped below $52 a barrel for the first time since June 2005.