DOHA (Pakistan Point News / Sputnik - 19th August, 2020) Saudi Arabian King Salman bin Abdul Aziz and Nigerian President Muhammadu Bahari discussed the situation in the global oil market ahead of an OPEC+ ministers meeting, media reported Wednesday.
According to Saudi state news agency SPA, the leaders of the two oil-rich nations discussed efforts being undertaken to stabilize and rebalance global oil markets. They also stressed the importance of compliance with the OPEC+ agreement and the compensation mechanism of all its participants.
The Joint Ministerial Monitoring Committee will hold a session on Wednesday in a videoconference format to review the execution of the oil production cuts agreed upon by the OPEC members and allies, such as Russia, following a historic drop in demand due to the pandemic.
