There is no need for the Organization of Petroleum Exporting Countries to schedule an extraordinary meeting before April, Saudi Arabia’s Energy Minister, Khalid al-Falih, told media, as quoted by Reuters. At the same event, an industry conference taking place in Abu Dhabi, Al-Falih also said the market was moving in the right direction and prices will recover soon enough. He added, however, that OPEC and its partners are ready to do more if this was called for. Brent and West Texas Intermediate are down again today, after a pickup last week, with Brent crude trading at US$59.71 a barrel at the time of writing, down 1.27 percent, and WTI trading at US$50.85 a barrel, down 1.43 percent from Friday’s close. “If we look beyond the noise of weekly data and speculators’ herd-like behavior, I remain convinced that we’re on the right track, and that the oil market will quickly […]