Several OPEC+ countries to participate in June 2 online alliance meeting in Riyadh - sources

MOSCOW. May 31 (Interfax) - Several OPEC+ countries will participate in person in a scheduled online ministerial meeting in Riyadh, Saudi Arabia, informed sources told Interfax.

Kazakhstan's Ministry of Energy told Interfax that the Energy Minister would attend the meeting in Riyadh in person.

"The minister will take part in the OPEC meeting and the OPEC+ ministerial meeting in Riyadh on June 2. He will go there," the minister's aide Shyngys Ilyasov said.

A number of other OPEC+ ministers will travel to Riyadh, the sources said. One source said that eight ministers had been invited.

The OPEC Secretariat confirmed for Interfax on Friday evening that the JMMC, OPEC conference and full-format OPEC+ meeting would take place in a virtual format.

Kazakhstan is one of several countries that voluntarily reduces production in addition to the quotas established by OPEC+. The other "volunteers" include Algeria, Iraq, Saudi Arabia, Kuwait, the UAE, Kazakhstan, Russia and Oman. These eight countries are cutting production by 2.2 million bpd in the second quarter. The market expects the restrictions to be extended into the second half of the year.

As reported on the OPEC website, an OPEC conference, a meeting of the OPEC+ Ministerial Committee and a full-format OPEC+ meeting will be held online on June 2. The meeting was originally due to take place in person in Vienna on June 1.