Venezuela Said to Request Emergency OPEC Meeting in Letter

Venezuela wrote to fellow OPEC producers requesting an emergency meeting as the collapse in oil prices hurts the group’s most vulnerable members, according to five people with knowledge of the matter.

The letter was sent to the 12 other members of the Organization of Petroleum Exporting Countries, the people said, asking not to be identified as the document isn’t public.

Venezuela has repeatedly called for OPEC members to meet as slumping oil prices sap government revenue. De facto leader Saudi Arabia, which has insisted it won’t cut production unless non-OPEC exporters cooperate, signaled again on Jan. 17 that it will stick to its strategy of defending market share .... http://www.bloomberg.com