OPEC President Rilwanu Lukman said the cartel’s...

OPEC President Rilwanu Lukman said the cartel’s key price-monitoring committee may meet next week to discuss action to stop the steep fall in worldwide prices because of the cartel’s high production. “A meeting is possible. We are still talking,” the Nigerian oil minister told reporters. Senior Nigerian sources, who asked not to be identified, said the price committee was certain to meet in the Indonesian holiday resort of Bali next week after an oil seminar in Singapore but said no exact date had been set. The committee consists of Saudi Arabia, Indonesia, Nigeria, Algeria and Venezuela. It has the power to call an emergency meeting of OPEC’s 13 members if it believes that prices are too far from their set targets.