OPEC+ panel shifts date of next meeting to Aug 19 - sources

LONDON (Reuters) - An OPEC+ ministerial panel monitoring the group's oil supply reduction deal will hold its next virtual meeting on Aug. 19, a day later than previously planned, three OPEC+ sources said on Friday, without giving a reason for the date change

Reuters August 15, 2020 01:07:42 IST
OPEC+ panel shifts date of next meeting to Aug 19 - sources

OPEC panel shifts date of next meeting to Aug 19  sources

LONDON (Reuters) - An OPEC+ ministerial panel monitoring the group's oil supply reduction deal will hold its next virtual meeting on Aug. 19, a day later than previously planned, three OPEC+ sources said on Friday, without giving a reason for the date change.

The panel, called the Joint Ministerial Monitoring Committee (JMMC), advises the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+.

OPEC+ has been cutting output since May to tackle the fallout from the COVID-19 pandemic.

Last month the JMMC recommended that the cut be eased from Aug. 1 to about 7.7 million barrels per day (bpd) from a reduction of 9.7 million bpd previously, in line with an earlier OPEC+ agreement. That change was implemented this month.

Russian Energy Minister Alexander Novak said on Thursday there have been no additional proposals to change the deal.

(Reporting by Rania El Gamal, Ahmad Ghaddar and Alex Lawler; Editing by Jan Harvey)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.