Opec+ set to convene as oil price rally slows

Opec+ set to convene as oil price rally slows

Oil producers of the Opec+ alliance, which has been correcting market supply, will convene for another extraordinary meeting on Thursday, when they are likely to maintain current production curbs.

The group, which is led by producers Saudi Arabia and Russia, has been deferring a planned increase in production in an effort to avoid flooding the market with crude.

Opec+ preferred to "keep its powder dry", Saudi Arabia's energy minister Prince Abdulaziz bin Salman said at an extraordinary meeting earlier this month, referring to its decision to maintain production cuts.

The group will convene its joint ministerial monitoring committee meeting on Wednesday, followed by the