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The member countries of the OPEC + agreement to reduce oil production have made a formal decision to cancel the ministerial meeting scheduled for April in Vienna. This was reported to Bloomberg by OPEC delegates who wished to be unnamed. According to them, the decision was made on the basis of the recommendation of the OPEC + Ministerial Monitoring Committee on March 18 to cancel the April meeting. The ministers agreed that market conditions are unlikely to change in the near future. It is reported that the committee will meet in Saudi Arabia in May. OPEC and OPEC + ministerial meetings will be held in Vienna in June, where the question of extending the OPEC + agreement for the second half of 2019 will be considered.
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