OPEC+ Panel Meeting: No Surprise, Gradual Output Increase Expected

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OPEC+ set to keep output policy unchanged at panel meeting

An OPEC+ ministerial panel scheduled to meet on Wednesday is unlikely to recommend any changes to policy, allowing the group to start gradually increasing production from December, two sources from told Reuters.

The two sources, who declined to be identified, said Wednesday’s meeting is unlikely to bring any surprises. One of them said it will reaffirm the need for member countries to comply with their production targets under the deal.

An OPEC+ source told Reuters last week that clarity on whether the compensation cuts were made in September would allow the December increase to go ahead.

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This article was written by Ryan Paisey at www.forexlive.com.