The OPEC+ coalition, comprising the Organization of the Petroleum Exporting Countries and its allies, has postponed its meeting to decide the future of its oil production strategy from December 1 to December 5. The alliance is currently implementing three sets of oil production cuts in response to uncertain demand. OPEC+ members are officially reducing their output to 39.725 million barrels per day, while eight members are voluntarily cutting further.
The coalition, made up of the Organization of the Petroleum Exporting Countries and its allies, was initially scheduled to meet on Dec. 1. They will now confer virtually next week.
The OPEC+ oil alliance postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources told CNBC.The coalition, made up of the Organization of the Petroleum Exporting Countries and its allies, was initially scheduled to meet on Dec. 1. They will now confer virtually next week.
Under its formal output strategy, member nations are curtailing their combined production to 39.725 million barrels per day into next year. Eight OPEC+ members are meanwhile voluntarily reducing by 1.7 million barrels per day throughout 2025, along with a second set of 2.2 million bpd of cuts that they are currently due to begin phasing out in December.The OPEC Secretariat later in the session said that the meeting was rescheduled as several ministers of member nations will be attending the Dec.
OPEC+ Oil Production Demand Outlook Meeting Postponement Crude Oil Energy Policy
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