ABUJA, NIGERIA - In the recent turn of events, members of the Organization of the Petroleum Exporting Countries (OPEC)  are trying to reach a general agreement on how to end the ongoing global oil glut, said the oil minister of Nigeria.

In an exclusive interview with Reuters , Nigerian oil minister Emmanuel Ibe Kachiwku said there has been further discussion among the OPEC members over the current situation in the oil industry, looking at the worst cases and coming up with optimum solutions.

"There's increased conversation going on," he said. "I think when we met in December ... they (OPEC members) were hardly talking to one another. Everyone was protecting their own positional logic."

Due to the global oil glut, the prices of oil  have gone down by more than 70 percent, selling each barrel around $30 for the past one and a half years.

Being the top oil producer among the OPEC members, Saudi Arabia has led the organization in driving out higher-cost producers from the market by continuing the oil production despite the oversupply.

Apparently, the plummeting of prices has greatly affected some economies, such as Nigeria and Venezuela, where oil sales are the major sources of income and has caused several workers to lose their jobs .

Saudi Arabia did not even escape from the effects of price crash as it shores up its resources to defy the unimpressive drops in its business revenues.

Due to these circumstances, OPEC has been making emergency meetings to deal with the issues. However, Kachikwu said the meetings had not been conducted at the right time.

"We haven't been sure that if we held those (emergency) meetings that we could actually walk away with some consensus," he said.

"A lot of barrels are tumbling out of the market from non-OPEC members, so the Saudi philosophy is obviously working."

Despite preventing higher-cost producers from entering the market, he revealed "it's not influencing the price higher, which means that whether we like it or not some barrels are coming in from ... members and non-members to cover whatever is dropping out."

According to Reuters, OPEC will have its next meeting in June this year.