OPEC+ Delays Ministerial Meeting to December 5
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Vienna, Nov 28 (NationPress) The Organisation of the Petroleum Exporting Countries (OPEC) along with its partners, collectively referred to as OPEC+, has rescheduled its ministerial meeting that was planned for Sunday to December 5.
The OPEC organization, headquartered in Vienna, announced on Thursday that the meeting was pushed back as several OPEC+ ministers will be participating in the 45th Gulf Summit in Kuwait City.
During the upcoming ministerial meeting, which will take place via videoconference, OPEC+ oil ministers are expected to determine their output policy, as reported by Xinhua news agency.
Earlier this month, eight member countries of OPEC+ declared an extension of their voluntary oil production cuts by another month, lasting until the end of December, due to a general decline in oil prices in recent weeks amid worries about diminishing global demand.
In its November oil market report, OPEC further lowered its global oil demand growth forecasts for this year and the next, marking the fourth consecutive month of downward revisions.
