Opec may stay the course despite fears of US$20 oil

London

OPEC is determined to keep pumping oil vigorously despite the resulting strain even on the policy's chief architect Saudi Arabia, alarming weaker members who fear prices may slump further towards US$20.

Any policy U-turn would be possible only if large producers outside the Organization of Petroleum Exporting Countries, notably Russia, were to join coordinated output cuts. While Moscow may consult Opec ministers before their meeting next week, the chances of it helping to halt the price slide remain slim.