OPEC Defies Covid-19; opens crucial meetings, today:

Nigeria’s Minister of State for Petroleum, H.E. Timipre Sylva joins other OPEC Ministers today in defying the concern about Covid-19 by holding crucial meetings in Vienna.

The mere confirmation that the meetings would go ahead had rescued plunging of oil prices.

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 JMMC takes place today; the 178th (Extra-ordinary) OPEC Conference will take place tomorrow, while the 8th OPEC-NON OPEC (OPEC+) takes place on Friday.

Signed:
Garba Deen Muhammad
SA Media to the Minister of State for Petroleum Resources, Nigeria
4th March 2020
Vienna, Austria