OPEC+ Ministers Talk About Tweaking Oil-Output Cuts If Needed

SourceBloomberg
SectorOil & Gas
CountryGCC

OPEC+ ministers talked openly about the possibility of tweaking their oil-cuts deal, the latest signal that the group is reconsidering its January production hike. While Saudi Arabia and the United Arab Emirates, two core members of the cartel, didn’t commit to any policy changes before their Nov. 30 meeting, they reiterated their intention to respond proactively to changes in the market. Oil prices have dropped in the past month amid a second wave of coronavirus lockdowns, threatening to reverse the recovery in ...read more...