A group consisting of some of the world’s most powerful oil producers on Thursday will meet to decide on the next phase of output policy.
OPEC and non-OPEC partners, a group sometimes referred to as OPEC+, convened for talks via videoconference at around 1:25 p.m. London time.
The OPEC+ alliance is currently cutting by just over 7 million barrels per day in an attempt to prop up prices and reduce oversupply. OPEC kingpin Saudi Arabia has voluntarily added an additional 1 million barrels per day to those cuts.
