Apr 6, 2020 - World

G20 emerges as option for talks to calm oil markets

Ben Geman, author of Generate

U.S. Department of Energy Secretary Dan Brouillette. Photo: Drew Angerer/Getty Images

The G20 is emerging as a venue for cooperative efforts to try and calm the oil market, and Bloomberg and others report that a potential meeting of G20 energy ministers could be Friday.

Driving the news: U.S. Energy Secretary Dan Brouillette discussed the G20 role during a wider discussion over the weekend with his Saudi counterpart, a DOE spokesperson tells Axios.

  • "Secretary Brouillette participated in a productive discussion with Prince Abdulaziz bin Salman, Minister of Energy of Saudi Arabia, about ongoing challenges and instability in global oil markets," according to Shaylyn Hynes.

What they're saying: "[T]he two energy ministers agreed to continue this dialogue through a G20 Energy Ministers meeting in the near future," Hynes said.

Catch up fast: The Saudis currently hold the G20's rotating presidency.

  • International Energy Agency head Fatih Birol tweeted yesterday that he spoke with Seamus O'Regan, Canada's natural resources minister, and they agreed the G20 "could play a leading role in boosting market stability."
  • Birol has also held recent talks with U.S. and Brazilian officials.

Go deeper: Imagining a new energy normal after coronavirus

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