January 2015, Vol. 242, No. 1

Projects

OPEC Output Unlikely To Change Even If Oil Drops To $40

OPEC will stand by its decision not to cut output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, said the United Arab Emirates’ energy minister on Dec. 15, according to Bloomberg. OPEC isn’t planning to change its Nov. 27 decision to keep the group’s collective output target unchanged at 30 MMbpd, Suhail Al-Mazrouei said. Venezuela supports an OPEC meeting given the price slide, though the country hasn’t officially requested one, an official at Venezuela’s foreign ministry said Dec. 12. The group is due to meet again on June 5. “We are not going to change our minds b

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