Opec ministers and allies discuss 'dramatic oil market situation'

VIENNA - The Opec alliance of oil producers said"several" member states, and some of its allies in the Opec+ grouping, held a teleconference on Tuesday to discuss the plunge in oil prices caused by the coronavirus pandemic.

A photo tweeted by the organisation appeared to show representatives from countries including Nigeria, Iraq and Venezuela taking part but there was no confirmation of which countries joined the meeting. A spokeswoman for Russian Energy Minister Alexander Novak said Russia - viewed as the leader of the Opec+ grouping - did not take part.

"Opec+ countries are carefully monitoring the situation and have all means to react, if need be," Novak said.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tech titans dominate US stock market after surgeInvestors are once again crowding into a narrow range of technology and internet stocks, heightening concerns that the market's dramatic bounce ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Stocks open sharply lower amid pressure on oil market[NEW YORK] Wall Street stocks opened sharply lower Tuesday as the oil market remained under pressure and more large companies withdrew their earnings forecasts due to the uncertain economic outlook. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »