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Media: OPEC+ does not intend to change oil prices during today's meeting
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Baghdad Today - Follow-up
International media revealed, today, Thursday (August 1, 2024), that the OPEC+ alliance intends to maintain the current production policy without making any changes.
According to Reuters, "OPEC+ oil ministers are meeting today, Thursday, to decide on production policy, while sources in the alliance rule out making any changes to the current agreement to reduce production and begin reducing some of the cuts starting in October, despite the recent sharp decline in oil prices."
"Senior ministers of OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, will hold a meeting of the Joint Ministerial Monitoring Committee via the Internet today at 1000 GMT," she added, noting that "changes to the current plan are unlikely."
The OPEC+ alliance is currently cutting production by a total of 5.86 million barrels per day, or about 5.7 percent of global demand, as part of a series of steps agreed since late 2022.
Source: Agencies
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