Baku Meeting of OPEC-non-OPEC Scheduled for March-April, No Fixed Date Yet - Oman Minister

ABU DHABI (Pakistan Point News / Sputnik - 12th January, 2019) Oman's Oil Minister Mohammed Rumhi told Sputnik on Saturday that the meeting of the group of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil exporters in Baku is expected to take place in March-April this year, however, the exact date has yet to be determined.

"The Baku meeting is happening, it is in the program, but I don't think they fixed the date. The expectation is March-April, the one in Baku. There was an informal discussion that we don't want it too early, because we want to see if the agreement is in place, the one we agreed on that is 1.

2 [million barrels per day cut]. When we have enough information and see its impact. The idea is to give it time," Rumhi said on the sidelines of the Atlantic Council Global Energy Forum when asked if the OPEC-non-OPEC meeting previously scheduled for January was canceled.

On December 7, participants of the OPEC-non-OPEC oil output cut deal agreed to reduce overall production by 1.2 million barrels per day starting from 2019, with a view to signing the charter on future long-term cooperation in the first quarter of 2019. OPEC member states will cut production by 800,000 barrels per day and non-OPEC countries by 400,000 barrels per day.