Editing Date: 6/6/2020 15:08
is hoped that the Organization of Petroleum Exporting Countries will hold a meeting today, Saturday, to discuss the commitment of producers to the organization’s decisions and monitor the effects of the decision to reduce production in global markets.
A spokesman for the Ministry of Oil, Assem Jihad, said, “The indicators of the agreement to cut production for the past month were relatively positive, as the price of a barrel of oil rose to more than $ 40 after falling to less than $ 20 during the last period due to the Corona pandemic and the low volume of demand for fuel.”
He added, “The agreement contributed to absorbing part of the oil surplus in the global markets,” noting that “a meeting to be held by OPEC + 1 today through a television circle to discuss developments in the oil market and find solutions to restore stability and balance to the oil market.”
On the most important topics that will be discussed in the upcoming OPEC + meeting via the television, Jihad explained that “the reports of the Organization Research Center and the Ministerial Committee for Production Control will be reviewed and the effects of the decision to reduce production in global markets, and the subsequent steps that can be taken, and urge producers to fully comply In order to achieve the goals. ”