The Organization of Petroleum Exporting Countries has no plans to hold an emergency meeting amid falling oil prices, according to a delegate from the group. Crude prices have dropped almost 50 percent from a June peak as OPEC refused to cut production and U.S. output reached a three-decade high. There have been no concrete discussions about holding an emergency meeting, said the delegate, who asked not to be identified because the group’s talks are private. OPEC’s next regular meeting is on June 5. Brent futures dropped $1.32 to $58.90 on the London-based ICE Futures Europe exchange. Prices rebounded to gain 45 cents in intraday trading after OPEC President Diezani Alison-Madueke said in an interview with the Financial Times that she will call a meeting if prices keep declining. “An emergency meeting would suggest that they are going to do something to support the market,” said Bill O’Grady, […]