Jakarta: The G20 Energy Ministers has convened virtually to discuss the unprecedented impacts of the COVID-19 pandemic on the global economy, including energy markets.
According to the communique from the meeting, the ministers acknowledged that the current crisis, in addition to its direct health, economic, and social impacts, has contributed to the destabilization of global energy markets.
In addition, they also noted the disproportionate effects the pandemic has had on the most vulnerable peoples and communities which underscores the need to ensure that the energy sector’s recovery efforts leave no one behind.
"We acknowledge the importance of international cooperation in ensuring the resilience of energy systems that benefit all," the communique said.
"We also recognize the commitments and measures taken by producers and actions by both producers and consumers to stabilize energy markets,: the communique stated.
Under the Saudi G20 Presidency, the G20 Energy Ministers Meeting was held virtually on September 27-28.