Facing the loss of output from two member states, OPEC and its partners meet this weekend in Azerbaijan to assess the progress of their agreement to hold back oil from the market.
div > div.group > p:first-child"> OPEC Secretary General Mohammad Barkindo was attending the annual IHS Markit CERAWeek conference in Houston this week and said the meeting in Baku will set the stage for what happens at the next meeting in April.
"The outcome of Baku will feed into the decision. It depends on the data. We must look at the data," said Barkindo. OPEC meets again in June, and could take action at that meeting. Asked about Venezuela, Barkindo said OPEC is not a political organization and that Venezuela oil minister Manuel Quevedo has a ceremonial role as president of OPEC this year, a rotating position.
Saudi Arabia Energy Minister Khalid Al Falih, who was not at the meeting this year, said over the weekend that OPEC and Russia would probably wait until a June meeting to consider output changes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil edges up on OPEC cuts, U.S. sanctions against Venezuela and IranOil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions ag...
Read more »
Will Anti-OPEC Legislation Make A Difference (For Anyone Besides Lawyers)?Proposals to make it illegal for oil exporters to cooperate in setting oil production levels are not well thought out.
Read more »
Oil rises on OPEC-led supply cuts, but slowing economy restricts gainsOil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying a...
Read more »
Exclusive: Saudi's Falih - U.S., China driving oil demand; no April OPEC policy changeSaudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would ...
Read more »
Oil edges up on Venezuela and Iran sanctions, OPEC supply cutsOil prices crept up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanct...
Read more »
Oil rises on ongoing OPEC-led supply cuts, fall in U.S. rig countOil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-...
Read more »
Oil prices rise amid broad market rally, OPEC supply cutsOil prices rose on Tuesday, lifted by healthy demand and output cuts led by prod...
Read more »
Exclusive: Saudi's Falih says no OPEC+ output policy change until JuneSaudi oil minister Khalid al-Falih said on Sunday it would be too early to chang...
Read more »
Oil gains as Saudi stands by OPEC supply cuts, U.S. rig activity dropsOil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-...
Read more »
Saudi oil minister says US, China driving oil demand, but not enough for an April OPEC policy changeSaudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be too early to change OPEC+ output policy at the group's next meeting in April.
Read more »