Saudi Arabia, Kuwait and the United Arab Emirates are not taking part in Tuesday’s OPEC conference call, Reuters reported, citing two sources familiar with the matter.
“OPEC members Algeria, Nigeria, Venezuela and Iraq along with non-OPEC oil producers Kazakhstan and Azerbaijan are part of Tuesday’s conference call,” sources added. Earlier in the day, Saudi Press Agency (SPA) reported that Saudi Arabia was ready to take additional measures in participation with OPEC+ members to rebalance the oil market.
Market reaction
The barrel of West Texas Intermediate edged lower on this headline and was last seen trading at $13.65.
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