Michael Spiller
A meeting of OPEC+ on the issue of a possible reduction in oil production in order to stabilize prices is scheduled on April 9. Today, countries received invitations to an emergency meeting, which will be held in a video conference format.
"The full list of invitees includes 23 OPEC + member countries, as well as Argentina, Brazil, Colombia, Egypt, Indonesia, Norway and Trinidad and Tobago," the agency said. It is noted that the United States and Canada are not included in the list of invitees.
The agency also writes that the OPEC + meeting is likely to be followed by a meeting of G20 energy ministers.
On March 6, the OPEC+ countries were unable to agree either to change the parameters of the agreement to reduce oil production, or to extend it. As a result, from April 1, restrictions on production in the member countries of the former alliance were lifted. This caused a collapse in the oil market, which overlapped with a sharp global drop in demand due to the coronavirus pandemic.
source: bloomberg.com
"The full list of invitees includes 23 OPEC + member countries, as well as Argentina, Brazil, Colombia, Egypt, Indonesia, Norway and Trinidad and Tobago," the agency said. It is noted that the United States and Canada are not included in the list of invitees.
The agency also writes that the OPEC + meeting is likely to be followed by a meeting of G20 energy ministers.
On March 6, the OPEC+ countries were unable to agree either to change the parameters of the agreement to reduce oil production, or to extend it. As a result, from April 1, restrictions on production in the member countries of the former alliance were lifted. This caused a collapse in the oil market, which overlapped with a sharp global drop in demand due to the coronavirus pandemic.
source: bloomberg.com
