OPEC+ to maintain or cut oil output at Sept. 5 meeting: Report
03/09/2022
Argaam
OPEC+ is expected to maintain oil output for October at a meeting on Monday, Sept. 5, Reuters reported, citing three OPEC+ sources.
Meanwhile, some sources would not rule out a production cut to boost the prices that plunged from sky-high levels hit earlier this year.
Brent crude prices fell to about $95 a barrel this week, compared to $120 in June, on concerns about global economic recession and the possibility of returning nearly one million barrels per day of Iranian oil to the market in case of reaching a nuclear agreement with the Western countries.
Russia announced today that it will stop supplies to the countries supporting the idea of setting a ceiling for Russian crude prices.
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