Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Russia, UAE say OPEC+ meeting still on for March

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/15/2020 | 04:51am EST
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

Key OPEC Gulf member the United Arab Emirates and the group's ally Russia said on Wednesday they were still committed to meeting in March to decide on future production policies.

Citing an unnamed source from The Organization of the Petroleum Exporting Countries, Russian news agency Tass reported on Wednesday that OPEC and its allies -- known as OPEC+ -- have started consultations on extending the current output-cutting deal until June without holding a meeting in March.

"No one approached us officially or unofficially... We're assuming, that there are agreements, that we meet in March", Russian energy minister Alexander Novak told reporters.

"Our meeting is near, in March. My expectations are for the meeting to be a positive meeting," UAE's energy minister Suhail al-Mazrouei told reporters.

The energy minister of de facto OPEC leader Saudi Arabia, Prince Abdulaziz bin Salman, also said on Monday that OPEC+ will meet in March and it was too early to say what decision it would take.

OPEC and its allies agreed in December to reduce supply by 1.7 million bpd in 2020. The pact expires at the end of March as Russia had insisted it wanted the current deal to last only three months.

Saudi Arabia was keener for the deal to last longer, according to OPEC+ sources.

It would be very unusual, if not unprecedented, for OPEC to extend production cuts without holding a meeting, three OPEC sources said.

By Vladimir Soldatkin and Dahlia Nehme

Stocks mentioned in the article
ChangeLast1st jan.
EURO / DIRHAM (EUR/AED) 0.09% 4.047 Delayed Quote.-1.66%
LONDON BRENT OIL 0.34% 59.11 Delayed Quote.-6.00%
MM2 ASIA LTD. -1.89% 0.26 End-of-day quote.-13.33%
US DOLLAR / DIRHAM (USD/AED) 0.03% 3.6727 Delayed Quote.0.00%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.04% 62.9027 Delayed Quote.0.46%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
12:17aCoronavirus infects Asia stocks with exposure to China
RE
12:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
12:13aFacebook, others restrict business travel to China as warnings grow
RE
12:10aCANADIAN CHAMBER OF COMMERCE : to Ring the Opening Bell at Toronto Stock Exchange
PU
01/27SOUTHEAST ASIA STOCKS : Singapore falls 3% on worries of economic impact from virus
RE
01/27Japan government nominates reflationist-minded economist to join BOJ board
RE
01/27CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China to ensure market supply of daily necessities
PU
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
Latest news "Economy & Forex"