Reuters conveying a statement from Iraqi Oil Minister Ihsan Abdul Jabbar, to the effect that:
- the OPEC+ meeting has been postponed until Friday
- is to enable completion of consultations and discussions, so they work towards agreement
I posted earlier on this delay here:
- A big Friday coming up – NFP and OPEC+ meeting (they need more time!)
It seems the UAE has alternative proposals to be further discussed, along the lines:
- UAE wants to increase its production significantly
- cuts would have to come from Russia and Iraq to accommodate the higher UAE output