Oil – OPEC+ has delayed its meeting to decide on output cuts until Thursday

The OPEC oil cartel and its partners (which mainly means Russia) has deferred a decision on planned production hikes, or an extension of curbs, until December 3.

  • The delay is said to give ministers more time to reach a deal. Talks will continue via phone.
  • The meeting on Monday broke without an agreement.
Discussions centre on whether to increase production in January as planned or maintain the cuts. Main considerations (in summary):
some see the market as still too fragile to accept more oil output
others are keen to ramp up production and make the most of the until now better prices.
oil putin