OPEC+ Meeting Paves Way for Oil Output Decisions
An OPEC+ meeting held on Wednesday won't decide oil output policy, but aims to adopt baselines for 2027 production. A separate meeting on Saturday will determine July's output increase for eight member countries. Discussions are paving the way for future production strategies.
The OPEC+ meeting on Wednesday concluded without any decisions on immediate oil output policy, according to a source who spoke to Reuters. The online assembly of the oil-producing countries took place as expected.
Insiders noted that a separate meeting scheduled for Saturday involving eight OPEC+ member countries is anticipated to discuss and potentially decide on an increase in oil output for July.
Wednesday's discussions were primarily aimed at adopting a mechanism for establishing OPEC+'s production baselines for 2027, as reported by two additional sources.
(With inputs from agencies.)
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