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OPEC+ members delay plans to hike production by two months after oil price slump
Members of the OPEC+ oil alliance have delayed plans to hike production by a scheduled 180,000 barrels per day in October, as part of a program to gradually return a broader 2.2 million barrels per day to the market over the following months. The increase has been delayed by two months, according to two OPEC+ sources, who could only speak anonymously because of the sensitivity of the talks. The 2.2 million-barrel-per-day decline had been a short-term voluntary cut implemented by just eight members of the OPEC+ alliance. Crude futures, which slumped in the earlier part of the week, picked up on Thursday, with the Ice ... (full story)
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- Posted: Sep 5, 2024 11:07am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,162
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