OPEC+ Meeting: Deepening oil cuts on the horizon says an unnamed source

<p>Reuters had a few snippets on the upcoming Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, i.e.&nbsp; OPEC+ meeting this week (begins on November 30).&nbsp;</p><p>Citing an unnamed OPEC +source the article says that&nbsp;OPEC+ is looking at deepening oil production cuts:</p><ul><li>said he expected there to be an option for a "collective further reduction", but didn't provide further detail</li></ul><p> This would fit with the view of a number of analysts expecting&nbsp;<span>OPEC+ to extend or deepen supply cuts into next year, given the recent dip in the oil price.&nbsp;</span></p><p>—</p><p> OPEC+ meetings will begin at&nbsp;1300 GMT on Thursday with&nbsp;ministers on an advisory panel called the Joint Ministerial Monitoring Committee holding talks</p><ul><li><span>meeting was delayed from November 26, which was reportedly due to&nbsp;</span><span>disagreement over output levels for African producers.</span></li></ul><p>Later on Thursday, at 1400 GMT&nbsp;<span>the full policy-making group of OPEC+ ministers will meet.&nbsp;</span></p><p>—</p><p>Earlier:</p><p><br></p><ul><li><a href="https://www.forexlive.com/news/saudi-arabia-sees-opec-rate-cuts-while-some-members-resist-20231127/" target="_blank" rel="follow" data-article-link="true">Saudi Arabia sees OPEC+ rate cuts, while some members resist</a></li></ul><p><br></p><figure data-media-><img src="https://images.forexlive.com/images/opec%20oil%2017%20February%202023_id_1b3f5263-4696-48ff-aef2-34f6898c122c_original.jpg" alt="opec oil 17 February 2023" width="524" height="318" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/opec%20oil%2017%20February%202023_id_1b3f5263-4696-48ff-aef2-34f6898c122c_original.jpg" /></figure><p><br></p>

This article was written by Eamonn Sheridan at www.forexlive.com.