OPEC+ ministers to meet again on Tues, no consensus reached

09:09, 05.01.2021 1 min read

The meeting of the OPEC+ ministers has been postponed until Tuesday, 15:30 Vienna time, sources familiar with the situation told Interfax-Ukraine.

According to one of the sources, after a break during the meeting, such a proposal was made by the Azerbaijan's Energy Minister Parviz Shahbazov, but it was also voiced by the Minister of Saudi Arabia.

On the eve of the break, there were two opposite proposals on the negotiating table - to increase production in February by 500,000 bpd or to keep production at the January level.

Previously, all countries expressed their positions. Only two countries - Russia and Kazakhstan - advocated an increase in production by 0.5 million bpd from February, the rest - for the extension of production at current levels.