An emergency meeting of energy ministers in "OPEC" to discuss the collapse of the oil market
18:17 - 04/21/2020
Information / follow-up ..
Some ministers of the Organization of Petroleum Exporting Countries (OPEC) will hold a conference on Tuesday to discuss developments in the oil market, according to Reuters.
The agency quoted a source as saying that the ministers are discussing the implementation of oil production cuts immediately and not starting from May 1.
The meeting came after US crude futures for May delivery fell below zero, for the first time ever.
The oil markets are witnessing severe pressures and fluctuations in light of the decline in global demand for crude due to the spread of the Corona virus and the measures taken to limit its spread.
To support the markets, the OPEC + group agreed to cut production by 10 million barrels per day in May and June of 2020, meaning that the cuts have not yet come into effect. 25 h has ended