The Organisation of Petroleum Exporting Countries,(OPEC) has defied the global ravaging concerns on the Covid-19 and would be going on with its meeting commencing rosy in Vienna Austria.
The confirmation that the meetings would go ahead had rescued plunging of oil prices,BusinessDay findings have revealed.
Nigeria’s Minister of State for Petroleum, Timipre Sylva would be joining other OPEC Ministers today in defying the concern about Covid-19 by holding crucial meetings in Vienna,Garba Deen Muhammad,said in a statement on Wednesday.
Recall,last week, prices had come down to below $50pb but rebounded by up to 1% on Monday.
It is expected that the meeting will have a positive impact on crude price and a morale booster for OPEC and OPEC+.
Three meetings are expected to be held between 4-6 of March, 2020. The 18th Joint Ministerial Monitoring Committee,JMMC takes place Wednesday; while the 178th Extra-ordinary OPEC Conference will take place tomorrow, while the 8th OPEC-NON OPEC (OPEC+) takes place on Friday.
HARRISON EDEH, ABUJA
