<article><p class="lead">The Opec+ group will meet in Vienna this week as planned, despite growing concerns over coronavirus, Opec sources told <i>Argus.</i></p><p>The rapid spread of the virus has led to conferences around the world being postponed or cancelled, including the annual <a href="https://direct.argusmedia.com/newsandanalysis/article/2080482">CeraWeek</a> energy conference in Houston later this month. But the Opec+ meetings are on track to take place on 5-6 March as scheduled. "So far, there is no change to the scheduled meetings this week," an Opec source said. </p><p>Members from some delegations are already on route — although there is a possibility that some may have to participate virtually as a result of virus-related travel constraints. </p><p>The decisions made at the Opec+ meetings will be closely watched, as the effects of the coronavirus outbreak on global oil demand continue to weigh on oil prices. Benchmark crude prices have dropped by 20-25pc since 20 January. </p><p>The Joint Technical Committee (JTC) that advises Opec+ recommended last month that the group cut a further 600,000 b/d from their combined output in the second quarter.</p><p>The gathering will draw ministers, government officials and delegates from across the world, along with analysts and journalists covering the meeting. The World Health Organisation has <a href="https://direct.argusmedia.com/newsandanalysis/article/2080053">raised its risk assessment</a> for coronavirus to "very high at a global level". </p><p>As of 1 March, Austria had 14 confirmed coronavirus cases, eight of which were located in Vienna. There have been more than 85,000 cases documented globally and 2,900 fatalities, most of them in China.</p><p class="bylines"><i>By Iain Packham</i></p></article>
