OPEC+ discussing rollover of current output cuts into January – Reuters

Eren Sengezer FXStreet

The OPEC and non-OPEC producers, the group know as OPEC+, are discussing a rollover of current oil output cuts into January followed by a gradual increase of about 500,000 barrels per day from February, Reuters reported on Thursday.

Meanwhile, sources familiar with the matter told Reuters that the OPEC+ meeting got delayed by one hour and will start at 1400 GMT.

Market reaction

Crude oil prices rose modestly after this headline. As of writing, the barrel of West Texas Intermediate was trading at $45.35, gaining nearly 1% on a daily basis.

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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