OPEC rescheduled its next meeting for July 5.
The 13-member Organization of Petroleum Exporting Countries said it changed its semiannual meeting, which was to begin June 30 in Geneva, to Vienna due to problems in finding hotel accommodations in Geneva. The meeting was originally scheduled for July 22 but was moved up in response to the continuing slide in world oil prices. Oil prices on the open market are at least $1.50 below OPEC’s official prices.
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