The Organization of Petroleum Exporting Countries's members descend on Doha Thursday for an extraordinary meeting aimed at finalizing a cut in oil output, but they must overcome divisions that damage the cartel's credibility, analysts say.
OPEC was to use the one-day meeting to discuss details of a reduction of one million barrels per day (bpd), agreed in principle by its members last week amid a drop in crude oil prices.
Division exists, however, over the nature of the cut. The market is unclear whether OPEC will decide to cut its official quota of 28 million bpd or slash actual production levels which are currently below the quota.
The oil market is seeking clarity from OPEC, which itself is responding to crude prices plunging by more than a quarter during the past two months.
The move towards OPEC's one-million-barrel cut began late in September when Nigeria and Venezuela voluntarily decided to reduce their oil production by a combined 170,000 bpd from October 1.
