OPEC Confirms OPEC+ Ministerial Meeting Postponed To December 3

OPEC Confirms OPEC+ Ministerial Meeting Postponed to December 3

OPEC confirmed on Tuesday that the OPEC+ Ministerial Meeting had been postponed to December 3 amid the reported disagreements on the future volume of the oil cuts

MOSCOW (UrduPoint News / Sputnik - 01st December, 2020) OPEC confirmed on Tuesday that the OPEC+ Ministerial Meeting had been postponed to December 3 amid the reported disagreements on the future volume of the oil cuts.

"The 12th OPEC and non-OPEC Ministerial Meeting has been postponed to Thursday, 3 December 2020, at 14:00 (CET) [13:00 GMT]," the OPEC said in a statement.

A source in the OPEC+ has earlier told Sputnik that such a decision was determined by the need for additional consultations.

According to the sources, the OPEC states are leaning towards extending the oil output cuts, which currently stand at 7.7 million barrels a day, by another three months. The OPEC+ was expected to ease the oil cuts to 5.8 mbd starting from January 1.

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