G20 Energy Ministers: Committed to ensuring full, effective contribution to overcoming COVID-19

Dhwani Mehta FXStreet

G20 Energy Ministers reaffirmed their commitment to "ensure that the energy sector continues to make a full, effective contribution to overcoming COVID-19" pandemic, the statement highlighted, which was released following the conclusion of their two-day virtual meeting,

Additional highlights

“Recognize actions by both producers and consumers to stabilize energy markets.”

Emphasize the importance of stimulus packages to stimulate inclusive economic activities.”

“Will continue to work together to create the conditions for sustained capital investments, including bolstering investments in innovation and a skilled work force.”

Market reaction

Despite the upbeat statement from the G20 meeting, oil bulls failed to take advantage, as both crude benchmarks return to the red in Asia this Monday.

WTI trades at $40.33, down 0.67% on the day.

WTI slips below $40.50 amid US dollar recovery, API data eyed

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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