OPEC+ meeting may consider output cut this week: report

Members of the OPEC+ group of oil producers will meet this week in Vienna to consider a production cut of 1 million barrels a day.

Oil prices haveA final decision on the size of the cuts won’t be made until ministers meet, the delegates said.

It’s since dropped to $85, cutting into the profits that Saudi Arabia, Russia, the United Arab Emirates and other members of the coalition have enjoyed.Oil prices dipped on Friday in choppy trading but notched their first weekly gain in five on Friday. Brent crude futures traded at $87.96 a barrel.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FoxBusiness /  🏆 458. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

OPEC+ to hold Oct. 5 meeting in person in ViennaOPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday.
Read more »

Russia, OPEC pushing $100 a barrel oil to 'glom money': John CatsimatidisUnited Refining Company CEO John Catsimatidis explained why Russia and the OPEC nations are pushing for higher oil prices and how much Russia stands to gain.
Read more »