If needed, Turkey will apply the Montreux agreement which governs the free movement of commercial ships through the Bosphorus and the Dardanelles straits.

Analysts expect that this meeting will decide to boost output by 400,000 barrels per day in March, in line with their strategy to slowly re-open the taps since May last year.

Based on the 2020 transfers, arms stockpiles remain high and sufficient to sustain any future conflict," the experts said.