OPEC+ will not prepone meeting on coronavirus

Discussions on coronavirus within OPEC+ continue, Azerbaijan's Energy Minister Parviz Shahbazov said

Report informs that, according to the Minister, OPEC+ will unlikely prepone the meeting on coronavirus.

"The OPEC Secretariat coordinates discussions. Member countries are also considering this issue. They always ask for Azerbaijan's opinion. As you know, there were proposals to hold the ministerial meeting in mid- or late February, though the earlier plan was to meet in March. However, the situation was reconsidered, and the organization is unlikely to prepone the meeting. The ministerial meeting will take place in early March as planned," the minister said.

Shahbazov noted that the coronavirus indeed had a 10% impact on the oil price. But the situation is seemingly stabilizing.

"Therefore, we'll meet and discuss this issue in Vienna in early March. By the way, the Technical Committee has met in Vienna and gave certain recommendations. The ministerial meeting will discuss these recommendations."