(Ecofin Agency) - The President of the Organization of the Petroleum Exporting Countries (OPEC), Dr. Emmanuel Ibe Kachikwu (photo) on Tuesday revealed that due to the current condition of the global market, some members of the group had requested an emergency meeting.

Ibe Kachikwu at an energy conference in Abu Dhabi said that there was a lot of pressure from several member countries for the holding of a meeting.

According to him, any meeting to be held would be to review OPEC's position on the market situation, Saudi Arabia’s failure to reduce production to help increase prices and to see if there is a need to change strategy. He added that the meeting is likely to take place in February or March, Reuters reports.

Anita Fatunji