US EditionOPEC+ Likely to Confirm Oil Production Pause, Delegates Say
OPEC+ will maintain its Q1 production pause due to anticipated record global oil surplus and falling crude prices, with 1.2 million barrels per day yet to restart, delegates said.
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OPEC+ Likely to Confirm Oil Production Pause, Delegates Say
Key members led by Saudi Arabia and Russia will hold a monthly video conference Jan. 4, and review a decision to halt further supply hikes in Q1 after rapidly reviving production earlier this year.
Opec+ intends to maintain oil output freeze
Opec+, the oil alliance led by Saudi Arabia and Russia, is reportedly planning to maintain an output freeze when it meets this weekend amid signs of potential oversupply. Saudi Arabia and Russia will lead the monthly video conference on January 4 to review the November decision to halt further supply increases during the first quarter, Bloomberg reported, citing three unidentified delegations. In December Opec said in a statement that eight Opec…
The oil cartel OPEC+ will maintain its pause on production increases in the first quarter of next year, sources at OPEC+ told Bloomberg. The organization, whose main members are Saudi Arabia and Russia, will meet via video conference this weekend to discuss production.
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