Monday, January 18

G20 Energy Ministers: Committed to ensuring full, effective contribution to overcoming COVID-19

G20 Energy Ministers reaffirmed their commitment to “ensure that the energy sector continues to make a full, effective contribution to overcoming COVID-19” pandemic, the statement highlighted, which was released following the conclusion of their two-day virtual meeting,

Additional highlights

“Recognize actions by both producers and consumers to stabilize energy markets.” 

Emphasize the importance of stimulus packages to stimulate inclusive economic activities.”

“Will continue to work together to create the conditions for sustained capital investments, including bolstering investments in innovation and a skilled work force.”

Market reaction

Despite the upbeat statement from the G20 meeting, oil bulls failed to take advantage, as both crude benchmarks return to the red in Asia this Monday.

WTI trades at $40.33, down 0.67% on the day.

Credit: FX Street

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