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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.
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  • 45% of the sources are Center
45% Center
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