Nigeria’s Minister of State for Petroleum, Timipre Sylva has joined other OPEC Ministers 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.
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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.
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