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BBG-Delegate Says OPEC+ To Discuss Output Cut @ 5 Oct Meeting

OPEC+

Bloomberg is reporting that according to a unnamed delegate, the OPEC+ group will discuss a potential cut to output at next week's ministerial meeting in Vienna, Austria.

  • Yesterday, the White House confirmed that it had officials, including Senior Advisor for Energy Security Amos Hochstein, in Saudi Arabia ahead of the October meeting.
  • During President Biden's trip to Saudi Arabia in August the White House pointed to the October meeting as an important juncture. In June Hochstein stated that, "the United States may reconsider oil sales from its strategic reserve in a big way after October."
  • On Tuesday Reuters reported that Russia could be set to call for a 1 million bpd cut in production at the October meeting.
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Bloomberg is reporting that according to a unnamed delegate, the OPEC+ group will discuss a potential cut to output at next week's ministerial meeting in Vienna, Austria.

  • Yesterday, the White House confirmed that it had officials, including Senior Advisor for Energy Security Amos Hochstein, in Saudi Arabia ahead of the October meeting.
  • During President Biden's trip to Saudi Arabia in August the White House pointed to the October meeting as an important juncture. In June Hochstein stated that, "the United States may reconsider oil sales from its strategic reserve in a big way after October."
  • On Tuesday Reuters reported that Russia could be set to call for a 1 million bpd cut in production at the October meeting.