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Oman not joining next oil producers meeting in Algeria

by ChemOrbis Editorial Team - content@chemorbis.com
  • 11/08/2016 (14:15)
According to media reports, Minister of Oil and Gas of Oman Mohammad bin Hamad al Rumhy stated that Oman will not attend the International Energy Forum’s meeting which brings oil producers and consumers together and will take place in Algeria next month due to the group’s inability to resolve the issue of low oil prices.

Rumhy said that they no longer find it meaningful to remain as a part of the group. He also added that less investment on oil and gas had no positive impact on oil prices.

Oman has cut state spending as it struggles with a hefty budget deficit on the back of cheap oil.
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