OPEC Bans WSJ, Bloomberg, Reuters From Attending June 4 Meeting In Vienna - Reports

OPEC has banned the reporters from Reuters, Bloomberg News and The Wall Street Journal from attending its key meeting that is scheduled for June 4, the Financial Times newspaper reported on Wednesday, citing people familiar with the matter

MOSCOW (UrduPoint News / Sputnik - 01st June, 2023) OPEC has banned the reporters from Reuters, Bloomberg News and The Wall Street Journal from attending its key meeting that is scheduled for June 4, the Financial Times newspaper reported on Wednesday, citing people familiar with the matter.

OPEC officials have not commented on the reasons for the media ban, which is unusual for the alliance, the newspaper reported, adding that people familiar with the matter believe that the decision was driven by Saudi Energy Minister Abdulaziz bin Salman Al Saud.

Prominent media groups usually publish insights with OPEC participants before the meeting is fully concluded, which creates surges in the oil prices. The Financial Times reported that it received an invitation to attend the weekend meeting alongside with several specialist trade publications, however reporters from the banned media outlets are still expected to be present in Vienna for the event to catch the ministers outside of the OPEC headquarters.

The OPEC+ group will hold an oil policy meeting on June 4. Russian Deputy Prime Minister Alexander Novak said earlier in the week that the OPEC+ alliance will decide at the upcoming meeting what is the best for the oil market, and will stay true to all previous decisions.

In April, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) approved the decision of Russia to extend voluntary oil production cuts of 500,000 barrels per day until the end of 2023, as well as the decision of Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman, and Gabon to also carry out voluntary oil output cuts starting May until the end of 2023.