G20 emerges as option for talks to calm oil markets

The G20 is emerging as a venue for cooperative efforts to try and calm the oil market, and Bloomberg and others report that a potential meeting of G20 energy ministers could be Friday.

Driving the news: U.S. Energy Secretary Dan Brouillette discussed the G20 role during a wider discussion over the weekend with his Saudi counterpart, a DOE spokesperson tells Axios.

"Secretary Brouillette participated in a productive discussion with Prince Abdulaziz bin Salman, Minister of Energy of Saudi Arabia, about ongoing challenges and instability in global oil markets," according to Shaylyn Hynes.

What they're saying: "[T]he two energy ministers agreed to continue this dialogue through a G20 Energy Ministers meeting in the near future," Hynes said.

Catch up fast: The Saudis currently hold the G20's rotating presidency.

International Energy Agency head Fatih Birol tweeted yesterday that he spoke with Seamus O'Regan, Canada's natural resources minister, and they agreed the G20 "could play a leading role in boosting market stability."
Birol has also held recent talks with U.S. and Brazilian officials.