TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Saudi to host G20 energy ministers' meeting on Friday

News Desk (Agence France-Presse)
Riyadh, Saudi Arabia
Wed, April 8, 2020

Share This Article

Change Size

Saudi to host G20 energy ministers' meeting on Friday A Saudi Aramco oil installation.Saudi Arabia will host a virtual meeting Friday of energy ministers from the Group of 20 major economies in a bid to ensure "market stability" amid a coronavirus-led slump in crude prices. (AFP/Marwan Naamani)
G20 Indonesia 2022

Saudi Arabia will host a virtual meeting Friday of energy ministers from the Group of 20 major economies in a bid to ensure "market stability" amid a coronavirus-led slump in crude prices.

The video call will follow an emergency meeting on Thursday of OPEC and other oil producers to address the virus-sapped demand for crude and a price war between Saudi Arabia and Russia.

"The Saudi G20 presidency will hold an extraordinary G20 energy ministers' virtual meeting on Friday... to foster global dialogue and cooperation to ensure stable energy markets," said a statement released Tuesday by the Saudi hosts.

"The G20 energy ministers will also act, alongside invited countries, and regional and international organizations, to alleviate the impact of the COVID-19 pandemic on the energy markets."

Crude oil prices collapsed to 18-year lows last week owing to a price war between Saudi Arabia and Russia, which have ramped up output despite weak demand.

The global markets will closely watch whether OPEC and other major producers led by Russia reach an agreement to reduce oversupply in talks on Thursday.

Ten oil producing nations from outside the wider OPEC+ alliance including the United States have been invited to the meeting, Russian news agency TASS reported Tuesday.

The meeting will come a week after US President Donald Trump claimed that leading producers Russia and Saudi Arabia will slash output to boost tumbling prices.

 

 

 

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.