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OPEC+ Close to Agreement for Supply Hike Delay

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OPEC+ is close to an agreement to delay its unwinding of cuts due to begin in October, according to delegates speaking to Bloomberg.

  • The delegates asked to remain anonymous because the information is private.
  • OPEC+ was expected to schedule 180k b/d of cut unwinding from October, followed by similar monthly hikes throughout Q4.
  • Reuters reported earlier today that discussions were taking place regarding a delay to the cuts. The Bloomberg sources suggest that a delay is now more likely.
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OPEC+ is close to an agreement to delay its unwinding of cuts due to begin in October, according to delegates speaking to Bloomberg.

  • The delegates asked to remain anonymous because the information is private.
  • OPEC+ was expected to schedule 180k b/d of cut unwinding from October, followed by similar monthly hikes throughout Q4.
  • Reuters reported earlier today that discussions were taking place regarding a delay to the cuts. The Bloomberg sources suggest that a delay is now more likely.