OPEC set to meet in Vienna

The members of Organization of the Petroleum Exporting Countries and other oil-producing countries are scheduled to meet in Vienna on Thursday to discuss ways to manage the oil output, supply glut and demand slowdown.

US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.

Over the past two months oil prices have plunged and a barrel of Brent crude, the European benchmark, currently stands at around 60US dollars.

However, OPEC’s third-biggest producer Iran has called to be excluded from any decision to cut production.

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