OPEC ministers, allies meet on oil market situation

“several” member states, and some of its allies in the OPEC+ grouping, held a teleconference 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.

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