OPEC+ ministers meet on the sidelines of the Riyadh conference

OPEC+ said in a statement: "The ministers assessed market conditions and agreed to continue consultations with all OPEC+ countries through the regular meeting mechanism." They "reaffirmed the vital importance of safeguarding international maritime shipping lanes and ensuring uninterrupted energy transportation," noting that current disruptions to energy transportation have driven up shipping and insurance costs, which "are bringing additional inflationary pressure to the global economy."