Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman sounded hard-line in his comments regarding another OPEC+ meeting in Q2. He said, “I fail to see the wisdom for holding meetings in May-June that would only demonstrate our failure in attending to what we should have done in a crisis like this and taking the necessary measures.”
Russian oil minister Alexander Novak said he did not rule out joint measures with OPEC to stabilize the market, adding that the next OPEC+ meeting was planned for May-June.
On the other hand, Iraqi oil minister Thamir Ghadhban said “the ministry is in contact with members inside and outside OPEC to discuss ways to prevent deterioration in oil prices.” Nigeria’s Minister of State for Petroleum Timipre Sylva urged OPEC and non-OPEC states to meet again to reconsider production cuts.
