Saudi Arabia, Russia Energy Ministers and OPEC Chief to hold a presser on Monday at 10 GMT
|According to Amena Bakr, Deputy Bureau Chief at EnergyIntel, a press conference between Saudi Arabian and Russian Energy Minister and the OPEC Secretary-General M. Barkindo will be held at 1000 GMT (1200 Vienna Time).
No further details are out on the same but the presser is likely scheduled in lieu of OPEC and its allies (OPEC+) weekend’s decision to extend the current oil output cuts by one month until end-July.
Market reaction
Both crude benchmarks are seen regaining ground on the above announcement, with WTI back above 40.00 while Brent oil makes another attempt above the 43 mark.
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