OPEC+ postpones meeting to Dec. 5: Report

28/11/2024 Argaam
Logo of OPEC

Logo of OPEC

OPEC+ postponed a meeting to decide its crude production strategy to Dec. 5, CNBC reported, citing two sources.

 

The coalition, initially scheduled to meet on Dec. 1, is expected to discuss a further delay to oil output hike, after a similar step was taken at November meeting.

 

OPEC+ had planned to gradually scale back its oil production cuts with slight increases over several months in 2024 and 2025, but the slowdown in Chinese and global demand, along with non-OPEC+ rising output, weakened this plan.

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