Opec+ delays upcoming policy meeting

Market: Crude oil
22/11/23

The upcoming Opec+ ministerial meeting that was scheduled to be held in Vienna on 26 November has been pushed back to 30 November, the Opec secretariat said today.

"The 187th Meeting of the Opec Conference, the 51st Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 36th Opec and non-Opec Ministerial Meeting (ONOMM), originally planned for 25 and 26 November 2023, have been rescheduled to Thursday, 30 November 2023," Opec said.

The secretariat did not give a reason for the delay.

Opec+ ministers are set to discuss the alliance's production policy for 2024. Opec+ is currently implementing a series of production cuts which started in November last year.

A key question is whether Saudi Arabia will extend a unilateral 1mn b/d production cut into 2024.

By Aydin Calik

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