No OPEC+ ministerial meeting planned this week – TASS

Eren Sengezer FXStreet

According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy.

"This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains unresolved," a high-ranking OPEC source told TASS.

Market reaction

This headline doesn't seem to be having a significant impact on crude oil prices. As of writing, the barrel of West Texas Intermediate (WTI) was up 1.25% on a daily basis at $74.70.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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