OPEC+ delays decision: Oil prices slide as meeting postponed

OPEC+ postpones meeting; oil prices fall over 4% amid difficulties in agreeing on production cuts to sustain prices through 2024

In a move that caught markets off-guard, the Organisation of the Petroleum Exporting Countries Plus (OPEC+) has announced the deferral of its pivotal Ministerial meeting, initially slated for this Sunday, 26 November, to Thursday, 30 November.

This revelation was made by Jorge León, Senior Vice President at Rystad Energy, who stated: “This postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.”