The Organization of Petroleum Exporting Countries, responsible for 40 percent of the world’s oil production, is facing pressure to have an extraordinary meeting as prices keep falling, according to analysts from Energy Aspects Ltd., RBC Capital Markets and Petromatrix GmbH. OPEC will probably have the meeting in the first quarter, Amrita Sen, chief oil market analyst at London-based Energy Aspects, said at a Platts conference in Dubai today. The pressure to meet will come from financially-strapped members such as Iran, Iraq and Venezuela, she said. RBC Capital Markets and Petromatrix have also pointed to the possibility of a special meeting. OPEC’s next scheduled summit is June 5. Crude has tumbled into a bear market as the highest U.S. production in three decades exacerbates a global glut. Saudi Arabia , which led OPEC’s decision to maintain rather than cut output at a Nov. 27 meeting, last week offered supplies to […]