Friday 29 Nov
The OPEC+ alliance has postponed its online meeting on oil production, originally scheduled for the following Sunday, to December 5th. This decision was announced in an official statement on the OPEC website.
The alliance will convene to discuss plans for gradually restoring suspended oil supplies. While an initial increase of 180,000 barrels per day in January was proposed, as reported by Bloomberg, there are ongoing discussions about potentially delaying this step for several months.
OPEC explained the postponement in its statement: "The 57th meeting of the Joint Ministerial Monitoring Committee and the 38th Ministerial Meeting of the Organization and non-OPEC participating countries, originally scheduled for December 1, 2024, have been rescheduled to Thursday, December 5, 2024. This adjustment is due to the participation of several ministers in the 45th Gulf Summit in Kuwait."
Bloomberg sources indicate that OPEC and its partners have shifted the meeting dates to allow for more extensive negotiations. In recent days, representatives from Saudi Arabia and Russia, the alliance's key players, have visited Iraq and Kazakhstan, both OPEC+ members.
