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OPEC+ Ready to Act If Needed Amid Talks on Output-Hike Delay

  • Ministers discussed postponing supply increase by 3-6 months
  • Saudis optimistic about Asia demand, concerned about Europe
    
Photographer: Ali Mohammadi/Bloomberg
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A panel of OPEC+ ministers told the group to be vigilant and responsive to the needs of the oil market, after discussions about whether their planned January production increase should be delayed.

The committee that monitors the market stopped short of giving a firm recommendation on whether the supply hike should proceed as scheduled. Ministers had been discussing a delay of three to six months. A final decision will be made at a full ministerial meeting on Nov. 30 to Dec. 1.