OPEC+ is scheduled to meet on December 1.
Reuters (out overnight) cite unnamed sources for info:
- It may push back output increases when it meets on Dec. 1
- due to weak global oil demand
- according to three OPEC+ sources familiar with the discussions
- Ministers last shelved the increase for a month when they met virtually on Nov. 3
- Two other OPEC+ sources said it was too early to say what the group will decide.
If you think that OPEC+ is just Saudi Arabia and Russia you’d be off track … but not by too much, these two are the biggies.
This article was written by Eamonn Sheridan at www.forexlive.com.
