OPEC+ Could Hold Crucial December Meeting Online | OilPrice.com
OPEC+ is likely to hold its December meeting online and may further delay its planned production cuts due to weaker-than-expected global oil
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At the December 1 meeting, whether online or in-person, OPEC+ could opt to delay the supply addition once again, considering the weaker-than-expected demand, according to analysts.
"I can't say it's popular in the group but there would be no strong objection to a delay until the first quarter," an OPEC+ sources told Reuters this week.
At the same time, deepening the cuts to support prices and prevent a surplus on the market would be even more unpopular, analysts say.
Many producers are already keen to boost output.
"We think deeper cuts, which ultimately may be required to support oil prices next year, could be difficult to stomach," Walt Chancellor of Macquarie told Reuters.
