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OPEC+ Headlines Suggesting 1mn bpd Cuts Being Considered

OIL

OPEC+ headlines suggest that the group is working towards cuts in its meetings this afternoon Vienna time.

  • “OPEC+ has reached a preliminary agreement for an additional oil output cut of more than 1 million barrels per day, an OPEC+ source said ahead of formal OPEC+ meetings due to take place later on Thursday.” Reuters reported.
  • Chief OPEC correspondent Amena Bakr tweeted via X - “Talks around a cut of more than 1 million bpd and will depend on how much could be contributed by member states – delegates”
  • Headlines acting as supportive for crude futures.

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