OPEC+ ministers reschedule talks due to lack of consensus

OPEC+ ministers reschedule talks due to lack of consensus

The meeting of the OPEC+ ministerial monitoring committee and the OPEC+ ministerial meeting will be held on Friday, July 2, the OPEC Secretariat said in a statement. As sources told TASS earlier, the ministers failed to reach an agreement on productions levels from August at Thursday meeting and decided to continue consultations on Friday.

The meeting of the monitoring committee is now scheduled for 4:00 pm Moscow time, while the OPEC+ ministerial meeting - for 5:30 pm Moscow time.

On Thursday, OPEC+ ministers tried to agree on the production level starting August. During the consultations, sources said that the general recommendation would be based on an increase in oil production by 2 mln barrels per day from August to the end of 2021, TASS reported.

However, several countries, among them the United Arab Emirates and Kazakhstan, were against the output levels offered to them.


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