Saudi, Russia energy ministers to hold informal talks with OPEC+ JMMC on Saturday – TASS
|Saudi Arabian and Russian Energy Ministers are expected to hold informal consultations with the OPEC and its allies (OPEC+) Joint Ministerial Monitoring Committee (JMMC) on Saturday, November 28, Russia’s news agency – TASS reported on Friday.
The official OPEC+ ministerial meeting is scheduled for November 30 and December 1. Its largely expected that the alliance would delay a hike in the oil output by three months.
Market reaction
WTI remains unimpressed by the above headline, dropping 1.50% on the day to trade around the $45 mark. The oil rally lost steam thanks to the resurgence of oversupply concerns and doubts about the coronavirus vaccine, which dampened the market mood.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.