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OPEC+ Unlikely to Make Decision on Output in Next JMMC Meeting

OIL

OPEC+ is not expected to decide on production volumes from April onwards at the next JMMC meeting on 1 February, but the group is likely to announce a decision in the coming weeks, five OPEC+ sources told Reuters.

  • One source said the meeting is mainly expected to discuss the group’s production levels. "There will be no recommendations at the next JMMC meeting," this source said.
  • A possible decision on whether or not to extend the cuts will likely come at the end of April, one source said, while another source said the decision’s timing was not yet clear.
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