Opec member countries to meet in November 29

Opec president Chakib Khelil

Opec member countries will hold a consultative meeting in November 29, in Cairo, said the president of the organization Chakib Khelil.

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• "Opec member countries will meet in Cairo in November 29 to discuss oil prices slump" Khelil told Algerian Radio Thursday.
• Oil prices fell to records as international demand is expected to shrink fueled by the financial crisis in United States and Europe.
• Khelil said "the organization has to cut production if the market keeps falling". An emergency meeting has been decided in Cairo to discuss the situation and help stabilize the market.
• Opec member countries will prepare in the Cairo meeting the decision to take in the Oran meeting slated for December 17.
• Cairo will host in November 29 a meeting of the Arab oil exporting countries to discuss the impact of oil prices decline on Arab economies.