OPEC+ to consider whether more oil cuts needed – sources

November 19, 2023

Energy News Beat
OPEC+ meets to set policy on Nov. 26
Oil has fallen to four-month low this week
Saudi Arabia expected to extend voluntary cut – Energy Aspects

MOSCOW/LONDON, Nov 17 (Reuters) – OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told Reuters after prices dropped by almost 20 percent since late September.

Oil has slid to around $79 a barrel for Brent crude from a 2023 high in September near $98. Concern about demand and a possible surplus next year has pressured prices, despite support from the OPEC+ cuts and conflict in the Middle East.

The post OPEC+ to consider whether more oil cuts needed – sources appeared first on Energy News Beat.

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OPEC+ to consider whether more oil cuts needed – sources

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