OPEC+ key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make any changes to its current deal to cut production ...
LONDON - OPEC + key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make any changes to its current deal to cut production and to start unwinding some cuts from October, despite recent sharp declines in oil prices .
At its last meeting in June, the group agreed to extend cuts of 3.66 million bpd by a year until the end of 2025 and to prolong the most recent layer of cuts - a 2.2 million bpd cut by eight members - by three months until the end of September 2024. The JMMC, which groups the oil ministers from Saudi Arabia, Russia and other leading producers, usually meets every two months and can make recommendations to the wider OPEC+ group.OPEC+ key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make any changes to its current deal to cut production and to start unwinding some cuts from October, despite recent sharp declines in oil prices.
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