OPEC+ postpones meeting to decide oil production strategy to Dec. 5, sources say
- OPEC has postponed its ministerial meeting from Sunday to December 5, as several Ministers will be attending the 45th Gulf Summit in Kuwait City.
- The OPEC+ coalition is currently undertaking three separate oil production cuts in response to uncertain demand.
- Eight OPEC+ members are voluntarily reducing production by 1.7 million barrels per day, while another cut of 2.2 million bpd is set to begin phasing out in December.
48 Articles
48 Articles
Oil prices suffer November drop as Middle East fears ease, OPEC+ delays meeting
Oil futures fell Friday, booking weekly and monthly losses after a cease-fire this week between Israel and Iran-backed Hezbollah helped soothe remaining worries over a wider conflict that could threaten crude supplies. Article Attribution | Read More at Article Source The post Oil prices suffer November drop as Middle East fears ease, OPEC+ delays meeting appeared first on RocketNews.
Oil prices head for weekly drop as Middle East fears ease, OPEC+ delays meeting
Oil futures bounced Friday but remained on track for weekly losses after a cease-fire between Israel and Hezbollah and a decision by OPEC+ to postpone an eagerly anticipated meeting.
Oil Prices Edge Up as OPEC+ Meeting Postponed
The oil market saw a slight uptick on Thursday, breaking a three-day losing streak. This shift came as the Organization of Petroleum Exporting Countries and allies (OPEC+) postponed their upcoming meeting. The ceasefire between Israel and Hezbollah remained a focal point for traders. Brent crude, the global oil benchmark, closed at $72.78 per barrel. This […]
OPEC+ postponed its meeting to discuss oil production policy to December 5 and reinforced the expectation that it will further delay its planned increase in the supply of the commodity
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