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

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)

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.

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Last Update: Thursday, 17 September 2020 KSA 11:35 - GMT 08:35
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