The OPEC+ oil alliance postponed its meeting to Dec. 5 to discuss the crude production strategy, with member nations currently operating three sets of separate oil production cuts in response to uncertain demand. The coalition, including OPEC and its allies, is curtailing production to 39.725 million bpd, with additional voluntary cuts by eight members and a second set of cuts due to begin phasing out in December. The rescheduled meeting is to accommodate several ministers attending the Dec. 1 Gulf Summit in Kuwait City, adhering to scheduling constraints.
Full Article
Loading PerspectiveSplit analysis...
