The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and Non-OPEC meeting, Austria. (File photo: Reuters)

Coronavirus: OPEC+ warns of COVID-19 impact, sees signs of decline in oil overhang

Follow Followed Unfollow

Reuters, Moscow

Published: 17 September ,2020: 12:08 PM GST Updated: 17 September ,2020: 12:35 PM GST

An OPEC+ technical panel warned that a rise in coronavirus cases in some countries may curb oil demand despite signs of economic recovery and initial indications of a decline in oil stocks, according to an internal document seen by Reuters on Thursday.

Later on Thursday, OPEC and allies, led by Russia, are scheduled to hold an online meeting to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook.

For all the latest headlines follow our Google News channel online or via the app.

OPEC+ panel to meet online amid oil price decline

OPEC celebrates 60th anniversary amid ongoing coronavirus challenges in oil markets

Get the latest stories from AlArabiya on Google News