Major crude producers are set to meet on Sunday to discuss how to stabilise a volatile oil market amid rising US-Iran tensions in the Gulf, which threaten to disrupt supply.
Key OPEC members and other major suppliers including Russia will assess the oil market and examine compliance to production cuts agreed late last year.
But the subject of Iran, which is not present, will dominate the one-day meeting of the OPEC+ group.
The meeting comes days after sabotage attacks against tankers in highly sensitive Gulf waters and the bombing of a Saudi pipeline by Iran-aligned Yemen rebels.
It is also taking place at a time when the full impact of re-instated US sanctions against Tehran kicks in, slashing the Islamic republic’s crude exports.
