The OPEC logo is seen at OPEC headquarters on October 4, 2022. Last October, the oil cartel announced its decision to cut output by 2 million barrels per day.
Joe Kramar | AFP | Getty Images
OPEC journalists from the three major news organizations were not invited to this weekend’s meeting of the oil producers’ alliance, sources told CNBC.
The OPEC Secretariat, which oversees media accreditation, sent invitations to some journalists on Tuesday to cover live coverage of the June 3-4 meeting. However, journalists from Reuters, Bloomberg and the Wall Street Journal, which normally cover OPEC, had not received invitations as of Wednesday evening, according to people familiar with the matter. The person spoke on condition of anonymity due to the sensitivity of the issue.
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Two Wall Street Journal reporters who occasionally cover OPEC were invited.
Reporters from CNBC — which competes with the Big Three for financial news and Bloomberg Television for TV coverage — were invited, same as financial times.
OPEC journalists from the three organizations will be denied access to pre- and post-meeting briefings and the secretariat if invitations are not received. Reuters and Bloomberg Both made public about their exclusion in reports published Wednesday.
CNBC understands that both agencies still intend to send delegations to cover the event. Spokespeople for the OPEC Secretariat and the Wall Street Journal did not immediately respond to requests for comment. Reuters and Bloomberg declined to comment.
OPEC+ ministerial meetings often see news organizations such as Reuters, Bloomberg and the Wall Street Journal scrambling to break down the outcome of the meeting before it is over. Widespread reports typically affect oil futures prices, and ministers also watch for any market-moving commentary that could provide an indication of prices.
The repeatedly chaotic OPEC meeting resumed in person last October, when concerns about oil demand prompted the alliance to shrug off a White House request for additional supply and remove 2 million barrels a day of output from the market.
Despite this measure, and several members of OPEC+ (a broader coalition that includes Russia) announcing an additional 1.6 million barrels per day of production cuts in April, the country has been struggling since the start of the year amid banking turmoil in Europe and the United States. , high inflation and largely depressed oil prices globally and China’s slow reopening has hit demand.
OPEC+ ministers are due to meet again on Sunday, although heavyweight producers Russia and Saudi Arabia appear to be sending conflicting signals ahead of the meeting.
Saudi Energy Minister Prince Abdulaziz bin Salman warned market speculators to be “cautious,” in a move that some saw as a hint of further production cuts ahead.
Meanwhile, Russian Deputy Prime Minister Alexander Novak initially said he did not expect further steps from the OPEC+ meeting, before saying his comments had been misinterpreted, According to the Russian state news agency TASS.