OPEC may cancel April meeting, but hold steady on oil output GlobeBusiness
Saudi Arabia's Energy Minister Khalid al-Falih answers journalists' questions prior to the opening of the 13th meeting of the Joint Ministerial Monitoring Committee of OPEC and non- OPEC countries in Baku on March 18, 2019. MLADEN ANTONOV/AFP/Getty ImagesOPEC and its non-OPEC partners need to reconsider if there is a need for a meeting in April, Saudi Arabia’s energy minister said on Monday, adding that there was no pressure from the United States to increase supply.
“As long as the levels of inventories are rising and we are far from normal levels, we will stay the course guiding the market towards balance.”The JMMC includes major oil producers Saudi Arabia and Russia and monitors the oil market and conformity levels with supply cuts.
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