Frontline Ltd (FRO)

[Dr Blunt]

$FRO OPEC meeting

The 12th OPEC and non-OPEC Ministerial Meeting concludes

No 28/2020
Vienna, Austria
03 Dec 2020
The 12th OPEC and non-OPEC Ministerial Meeting (ONOMM) was held via videoconference, on Thursday, 03 December 2020.

The Meeting welcomed the new Russian Minister of Energy, HE Nikolai Shulginov.

The Meeting recalled the rights of peoples and nations to permanent sovereignty over their natural wealth and resources.

The Meeting reaffirmed the continued commitment of the participating producing countries in the Declaration of Cooperation (DoC) to a stable market, the mutual interest of producing nations, the efficient, economic and secure supply to consumers, and a fair return on invested capital.

The Meeting recalled the decision taken by all participating countries in the DoC at the 10th (Extraordinary) ONOMM on 12 April 2020 to adjust downwards overall crude oil production and the unanimous decisions taken at the 11th ONOMM on 6 June 2020.