OPEC, however, would consider requesting its member countries to permit deferred payments at its June 5 and 6 meeting, which has been called to discuss the price issue. We will also be analyzing different schemes as requested by India, he said. He ruled out giving special concessional prices for oil importing countries and expressed OPEC's difficulty in accepting India's suggestion. OPEC could not enter into any bilateral agreements or give discount prices to any country. India imports just two percent of the total global oil demand.
Global demand is said to be currently sluggish due to a milder than anticipated winter.
OPEC is an international Organization of eleven developing countries, which are heavily reliant on oil revenues as their main source of income. Membership is open to any country which is a substantial net exporter of oil and which shares the ideals of the organization. The current Members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. It was formed in May 1916. The Divide Can astrologers correctly predict earthquakes.