New oil prices to determine in Baku
OPEC+ holds meeting in Baku for first time Today, Baku is hosting the 13th Meeting of OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC), Azdigest reports. Fourteen oil producing countries and the OPEC Secretariat are represented at the high level at the event. Along with OPEC Secretary General Mohammed Barkindo, the event is attended by the Venezuelan Oil Minister and President of the Venezuelan state-owned oil and natural gas company PDVSA Manuel Quevedo, and Saudi Arabia’s Minister of Energy, Industry and Mineral Resources and Chairman of the JMMC Khalid A. Al-Falih. Ministers and high ranking officials from OPEC countries Algeria, the UAE, Kuwait, Iraq, Libya, Nigeria, Congo and non-OPEC countries Russia, Kazakhstan, Bahrain and Brunei will also attend the JMMC meeting. Azerbaijani Energy Minister Parviz Shahbazov, Chairman of the Joint Ministerial Monitoring Committee Khalid A. Al-Falih, Venezuelan Oil Minister Manuel Quevedo and OPEC Secretary General Mohammad Barkindo are expected to address the event. Then, the OPEC analysis of the market’s development pace and the Joint Technical Commission (JTC) report on production performance for February will be presented. A press conference on the meeting results will also be held. More than 20 foreign and about 180 local media outlets have been registered to cover the event.