Russia agrees to reschedule OPEC+ meeting date

Russia agrees to change the date of the next meeting of the Organization of Petroleum Exporting Countries and Non-Member States – OPEC+, reports

The meeting was proposed to be rescheduled to June 4. Previously, it was scheduled for June 9-10.

Recall that the Minister of Energy of Algeria, Mohamed Arkab, invited the OPEC+ member countries to reschedule the next meeting for June 4.

He stated in a letter that he had talks with “some ministers”. The postponement of the meeting will facilitate the distribution of oil between traditional buyers, depending on demand, he writes.

Due to the collapse of OPEC+ deal, global oil demand fell in March. The price of Brent crude oil fell to 20-year lows, the price of WTI crude oil for the first time in history reached negative values. In April, in order to stabilize the market situation, OPEC+ member countries agreed on a record reduction in oil production.

Tags: добыча нефти, коронавирус, RF, Oil refinery plant, foreign affairs, ОПЕК+, OPEC, stocks, price, agreement, volumes, oil products, gasoline, infrastructure, quarantine, Brent, WTI, pandemia, COVID-19, энергетическая безопасность, decline in production, oil companies, oil reserves, crisis, economy, market

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