OPEC+ Is Firming Up Deal for Three-Month Delay to Output Hike
- Delegates say no opposition has emerged so far to the proposal
- Ministers will meet online on Dec. 5 to seek formal agreement
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OPEC+ is making progress toward an agreement to delay its oil-production revival by another three months, delegates said.
The group has been holding discussions for the past week on postponing a sequence of supply increases, which is due to commence with an initial hike of 180,000 barrels a day in January. An impending glut is weighing on crude prices.