ICYMI – OPEC+ could further extend voluntary cuts at its December meeting

OPEC+ is scheduled to meet on December 1.

Reuters (out overnight) cite unnamed sources for info:

• It may push back output increases when it meets on Dec. 1
• due to weak global oil demand
• according to three OPEC+ sources familiar with the discussions
• Ministers last shelved the increase for a month when they met virtually on Nov. 3
• Two other OPEC+ sources said it was too early to say what the group will decide.

If you think that OPEC+ is just Saudi Arabia and Russia you’d be off track … but not by too much, these two are the biggies.

This article was written by Eamonn Sheridan at www.forexlive.com.