The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting (ONOMM) that was scheduled for July 5 has been canceled, OPEC Secretary-General Mohamed Sanusi Barkindo announced.
The 18th meeting had scheduled on July 5th and was planned for OPEC and non-OPEC countries that contributing to the oil production curbing cooperation to discuss whether to increase oil output.
The action contributed to increasing the Brent crude international benchmark to exceed $77 per barrel, according to Reuters.
The meeting has been called off after consultations with the Minister of Energy of the Kingdom of Saudi Arabia and Chairman of the OPEC and non-OPEC Prince Abdul Aziz Bin Salman, and Deputy Prime Minister of the Russian Federation and Co-chairman of (ONOMM), Alexander Valentinovich Novak, according to Reuters.
According to Reuters report, OPEC+ ministers called off oil output talks after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed.
The date of the next ministerial meeting has not been decided yet.