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OPEC+ Considers Modest Oil-Production Increase, Output Freeze, Say Delegates

OPEC and its allies will consider either modestly increasing oil production or maintaining production at current levels when they meet on Wednesday, delegates say, as the alliance seeks more time to assess a potential slowdown in global energy demand.

The Saudi Arabian-led Organization of Petroleum Exporting Countries is under some pressure to increase supply and contribute to lower oil prices following President Biden’s high-profile trip to the Kingdom last month. But it must coordinate such a move with a coalition of Russian-led producers with whom it has an enduring alliance.

https://www.wsj.com/articles/opec-considers-modest-oil-production-increase-output-freeze-say-delegates-11659467618 OPEC+ Considers Modest Oil-Production Increase, Output Freeze, Say Delegates

Alley Einstein

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