No OPEC Decision Yet on Oil Cuts, Saudi Energy Minister Says
- Prince Abdulaziz expresses confidence in OPEC+ coalition
- Aramco CEO says virus is short-term issue; crude jumps briefly
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OPEC hasn’t decided yet to extend or modify its agreement to cut oil output, Saudi Arabia’s energy minister said, as the group grapples with the threat to crude demand from an intensifying spread of the coronavirus.
The Organization of Petroleum Exporting Countries and its allies are to meet next week in Vienna to assess their global cuts policy. Energy Minister Prince Abdulaziz bin Salman is confident of OPEC’s partnership with other producers including Russia, he told reporters on Tuesday in Riyadh.