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Oil Falls on Potential OPEC+ Meet Disruption

OIL

This weekend’s OPEC+ meeting looks to be running into trouble according to Bloomberg reports due to dissatisfaction by Saudi towards other members oil production levels.

  • Delegates said this weekend’s meet looks set to be delayed but no timeline has been given.
  • “Saudi Arabia, which has been making an additional 1 million barrel-a-day output cut since July, was in difficult talks with other members about their production levels” Bloomberg reports delegates as saying.
  • *OIL FALLS TO SESSION-LOW AS OPEC+ MEETING MAY BE DELAYED – bbg
  • Brent JAN 24 down -2% at 80.84$/bbl
  • WTI JAN 24 down -2% at 76.22$/bbl

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