Source: Riyadh contacts OPEC+ members, worries over demand

MOSCOW, Mar 24 (PRIME) -- Saudi Arabia has contacted the other members of the OPEC plus alliance to express its concern about recovery of demand, a source in one of the delegations of the alliance told PRIME on Wednesday.

"Riyadh is contacting members of the alliance ahead of the meeting. The situation on the market is discussed, the rates of vaccination and growth of COVID-19 contagion in Europe cause concern,” the source said.

“There is concern that all these things will undermine the prospects of oil demand recovery on the market."

An OPEC plus joint ministerial monitoring committee is scheduled to meet on March 31, the entire alliance on April 1. The participants shall decide on the level of production in May.

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