November 21, 2024 at 04:30AM
OPEC+ is scheduled to meet on December 1.
Reuters (out overnight) cite unnamed sources for info:
It may push back output increases when it meets on Dec. 1
due to weak global oil demand
according to three OPEC+ sources familiar with the discussions
Ministers last shelved the increase for a month when they met virtually on Nov. 3
Two other OPEC+ sources said it was too early to say what the group will decide.
If you think that OPEC+ is just Saudi Arabia and Russia you’d be off track … but not by too much, these two are the biggies.
This article was written by Eamonn Sheridan at www.forexlive.com.
ICYMI – OPEC could further extend voluntary cuts at its December meeting