The headquarters of OPEC, the Organization of Petroleum Exporting Countries, is located in Vienna, Austria. Barbara Gindl/AFP PHOTO/Getty Images
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
OPEC is likely to maintain its production policy at a meeting in June, Kuwait's OPEC governor said on Tuesday in the first public comment on what would be a crucial decision to determine the direction of global oil prices in the second half of the year.However, should U.S. oil producers prove more resilient than OPEC expects, the glut could persist and even be further aggravated if Western powers and Iran reach a nuclear deal allowing Tehran to increase its oil exports.Analysts from the Energy Aspects think tank said that even before fresh Iranian barrels return to the market, OPEC and other oil producers will have to face lower oil prices as demand is set to weaken in April-June.
FOLLOW THIS ARTICLE