OPEC+ talks may be held next week, source says

MOSCOW. KAZINFORM OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, a source taking part in the preparations told TASS.

«The meeting may take place next week. We have started communicating with countries on this issue,» the source said, without specifying the format of negotiations.

Earlier, Saudi Arabia called on to urgently convene a meeting of OPEC+ countries to discuss decisions on the oil market, TASS reports.

Saudi Arabia’s statement followed negotiations between US President Donald Trump, Russian President Vladimir Putin, and Crown Prince of Saudi Arabia, Mohammed bin Salman. Trump believes that the largest oil powers should together find a way out of the crisis in the oil market. He proposed to reduce production by 10 mln barrels per day in order to offset decline in demand due to the coronavirus pandemic.