OPEC+ to weigh rollover or small cut at Monday meeting, sources say

OPEC+ will meet Monday as oil demand faces headwinds and supply could be boosted

OPEC+ is likely to keep oil output quotas unchanged for October at a meeting on Monday, five OPEC+ sources said, although some sources would not rule out a small production cut to bolster prices that have slid due to fears of an economic slowdown.

Brent crude has dropped to about $93 a barrel from $120 in June on fears of an economic slowdown and recession in the West. Last month, top OPEC producer Saudi Arabia flagged the possibility of output cuts to address what it sees as exaggerated oil price declines. Russia said last week it would stop supplying oil to countries which support the idea of capping the price of Russian energy supplies amid a military conflict in Ukraine.Five OPEC+ sources said on Sunday the Sept. 5 meeting could roll over existing policies.

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