MOSCOW (Pakistan Point News / Sputnik - 21st April, 2020) A number of countries intend to urge OPEC+ to start reducing oil production without waiting for the beginning of May, but there is no consensus on this proposal yet, a source in one of the delegations attending today's OPEC+ video conference told Sputnik on Tuesday.
A number of OPEC+ ministers held an informal teleconference earlier in the day to discuss current developments in the oil market.
"A number of countries took the initiative to urge OPEC+ to begin to reduce [production] now, so that the market could stabilize. But there is no consensus, because a number of key players did not participate in the meeting and it is not clear whether they would support this initiative or not," the source said.
At the same time, a number of OPEC+ states believe that the alliance's agreement would not stabilize the market and would not help prices recover, he said.
"A number of the format's countries also have doubts about the fact that the agreement itself is stabilizing the market, since there are no noticeable positive signals on the market after the alliance has reached a consensus on a decrease in production," the source said.
