OPEC+ to maintain production levels at next meeting - report

Tuesday, 29. November 2022 21:40

The Organization of the Petroleum Exporting Countries and its partners (OPEC+) will probably decide to maintain production levels at their meeting next Sunday, the Wall Street Journal reported Tuesday, citing the group's delegates.

According to delegates, the move comes after Saudi Energy Minister Prince Abdulaziz bin Salman moved quickly to shore up unity in the organization following calls by some members for a production increase of up to 500,000 barrels a day at the beginning of this month.

Meanwhile, Iraq and the United Arab Emirates released statements of support for the current production plan. Last month OPEC+ agreed to cut oil production by two million barrels per day (bpd).

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Author:
Baha Breaking News (BBN) / JG