Ten non-OPEC+ producers invited to Thursday talks: TASS

News Image

MG News | April 07, 2020 at 05:45 PM GMT+05:00

0:00

Apr 07, 2020: Ten oil producing nations from outside the OPEC+ alliance including the United States have been invited to a meeting aimed at reaching an agreement to reduce oversupply, Russian news agency TASS reported Tuesday.

During a meeting to be held via video conference on Thursday, OPEC and its allies will discuss oil production cuts.

The meeting comes a week after US President Donald Trump claimed that leading producers Russia and Saudi Arabia will slash output to boost tumbling prices.

Moscow has said it is prepared to discuss cutting daily global output by about 10 million barrels a day.

In addition to its OPEC+ partners including Russia, the oil cartel has invited 10 other producing nations: the United States, Canada, Britain, Norway, Brazil, Argentina, Colombia, Egypt, Indonesia and Trinidad and Tobago, state news agency TASS said.

Citing an OPEC document, TASS reported that only the United States, Britain and Canada have not confirmed their participation.

OPEC did not confirm the report and the Russian energy ministry told AFP it could not comment.

Oil prices have slumped to multi-decade lows since the beginning of the year amid the fallout from the coronavirus pandemic -- which has weighed heavily on economies and crushed demand.

A price war between Saudi Arabia and Russia, the key player in OPEC+, has further aggravated the situation.

Saudi Arabia is the biggest producer in the Organization of the Petroleum Exporting Countries. Russia is not an OPEC member.

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 158,443.42
686.33M
-2.85%
-4654.77
ALLSHR 96,486.01
1,361.32M
-2.81%
-2790.24
KSE30 48,740.26
296.81M
-2.88%
-1444.29
KMI30 230,110.46
188.70M
-3.45%
-8223.06
KMIALLSHR 63,648.04
732.81M
-3.26%
-2144.50
BKTi 44,558.02
124.99M
-2.40%
-1095.50
OGTi 30,903.39
28.23M
-4.36%
-1409.86
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,295.00 116,515.00
114,110.00
-695.00
-0.59%
BRENT CRUDE 63.38 63.95
62.90
0.65
1.04%
RICHARDS BAY COAL MONTHLY 81.00 0.00
0.00
-0.60
-0.74%
ROTTERDAM COAL MONTHLY 89.30 89.30
89.15
-0.35
-0.39%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 59.56 60.17
59.00
0.66
1.12%
SUGAR #11 WORLD 15.57 16.21
15.53
-0.53
-3.29%

Chart of the Day


Latest News
October 13, 2025 at 04:05 PM GMT+05:00

PSX Closing Bell: Meltdown Mode


October 13, 2025 at 03:40 PM GMT+05:00

Justice (R) Junaid Ghaffar named CAT Chairman


October 13, 2025 at 03:35 PM GMT+05:00

Thatta Cement concludes Rs5.5bn sukuk transaction


October 13, 2025 at 03:34 PM GMT+05:00

PKR remains flat, closes at 281.16 against USD


October 13, 2025 at 02:37 PM GMT+05:00

Trump calls himself ‘Good' at solving wars



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg