OPEC+ states begin videocall on stabilisation of coronavirus-hit oil market

OPEC+ states begin videocall on stabilisation of coronavirus-hit oil market
  • Clock-gray 19:00
  • calendar-gray 09 April 2020

The OPEC+ countries and oil producers that were not previously part of the deal began their video conference on the oil market, a source in one of the delegations revealed, APA reports citing Sputnik.

Apart from OPEC+, Argentina, Egypt, Indonesia, Trinidad and Tobago confirmed their participation.

The oil producers will reportedly debate oil cuts of up to 20 million barrels per day, Reuters cited an OPEC source and a Russian source as saying.

Note that oil prices fell on global markets in early March after OPEC+ members failed to agree on an extension to the agreement beyond 1 April against a backdrop of the coronavirus pandemic.

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