Opec+ set to meet amid calls for lower prices as oil hits multi-year highs – The National

Opec+ set to meet amid calls for lower prices as oil hits multi-year highs – The National

Opec+ is set to meet on Thursday amid calls for the alliance of producers to help bring down oil prices that have hit multi-year highs.

The meeting comes at a time when global supplies are constrained while demand is rising as developed economies rebound faster than expected from the coronavirus-induced slowdown.

Opec+ led by Saudi Arabia and Russia may consider raising supply when it convenes for a ministerial session.