Equatorial Guinea ready to engage with OPEC if coronavirus affect oil market

Yesterday, Prince Abdulaziz bin Salman Al-Saud, Minister of Energy, expressed confidence over the Chinese authorities’ abilities to contain and eradicate the new coronavirus.

Equatorial Guinea fully supports the statement of Saudi Arabia’s Energy Minister made on Sunday, declaring that the Kingdom would be ready to react to any potential impact of the Coronavirus on the global oil market.

Yesterday, Prince Abdulaziz bin Salman Al-Saud, Minister of Energy, expressed confidence over the Chinese authorities’ abilities to contain and eradicate the new coronavirus. He added that in the case of psychological factors impacting oil prices, the Kingdom would be ready to act with OPEC and OPEC+ members on maintaining the stability of the market.

“As an OPEC member, Equatorial Guinea stands by Saudi Arabia’s statement and is fully ready to engage on a coordinate action with OPEC if future evolutions of the coronavirus were to affect global oil market stability,” declared H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons. “We share confidence in the ability of China and the international community to put an end to the spread of the virus at the soonest, and will continue to monitor market expectations accordingly.”

(With Inputs from APO)