Iran says OPEC eyeing early meeting

TEHRAN, Iran (AP) -- Iran's official news agency says OPEC members are discussing holding an emergency meeting in November over the decline in oil prices.

The news agency quoted Iranian Oil Minister Gholam Hossein Nozari on Thursday as saying that the meeting would tackle the reason behind the decline in oil prices.

The report says the emergency meeting may be held Nov. 18.

The Organization of Petroleum Exporting Countries had previously planned to meet in December in Algeria.

Crude prices have fallen about 40 percent since a record high of about $147 per barrel in July, as demand has waned in the United States and other industrialized nations.

OPEC members are worried about further price drops.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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