OEPC and members would hold another ministerial video conference during the week to find a solution to the production cut uncertainty.
- Crude oil prices are currently on a standby mode as the 133rd Meeting of the Economic Commission Board lacked any concentrate conclusion.
- However, OPEC Secretary General- HE Mohammad had assured the market and OPEC+ to take all necessary actions to bring the stability in the oil market.
- Currently, OPEC awaits further data and analysis to reach a solid conclusion to extend the production cut deadline from June 2020 to the year-end.
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