OPEC+ Focuses on Delay to Oil-Output Hike of Three to Six Months
- Talks before imminent meeting focus on continuing current cuts
- Main options discussed are three and six-month extensions
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Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates.
Saudi Arabia and Russia, leaders of the 23-nation coalition, have already indicated publicly that they are thinking twice about easing production cuts in January as the resurgent pandemic hits fuel demand.