OPEC+ to hold video conference meeting on Monday: Source

By MG News | April 03, 2020 at 02:16 PM GMT+05:00

0:00

April 3, 2020: The OPEC+ grouping led by major oil producer Russia will meet Monday via a video conference, a source close to OPEC said Friday.

Leading world crude exporter Saudi Arabia on Thursday made a surprise call for a meeting of the OPEC+ oil producers to "stabilize the oil market", which has been rocked by a price war between the two key players.

The source added that OPEC+ is watching the outcome of a meeting between Trump and the oil companies later on Friday and that a final figure on cuts depends on participation by all oil producers, Reuters reported.

Reuters highlighted that the energy ministry of non-OPEC producer Azerbaijan, meanwhile, said that an OPEC+ meeting is planned for April 6 and will be held as a video conference, Russia's RIA news agency reported. Russia and Saudi Arabia both belong to the grouping of members of the Organization of the Petroleum Exporting Countries and its allies, but the United States does not.

AFP/APP

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