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OPEC+ Delays Decision on Output Policy

M. Ali 1 July, 2021 9:58 pm Commodities, Market Update

The OPEC+ alliance ministerial meeting decided to delay the decision on output policy until Friday, according to recent media reports.

It was reported that the alliance was near an agreement on raising production levels by about two million barrels per day between August and December through an increase of about 400,000-barrel a day.

News reports point to a difference in opinions between members of OPEC+ regarding easing the current output cuts, which was originally agreed in response to the drop in demand due to the coronavirus pandemic.

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