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OPEC+ committee recommends no change in oil output policy at virtual meeting

From cnbc.com

A technical committee of the influential OPEC+ oil producers’ coalition has made no recommendation to change the group’s existing production policy in its latest meeting, according to two delegates. The OPEC+ Joint Ministerial Monitoring Committee, which tracks the alliance’s compliance with its output quota, convened digitally on Wednesday. The second OPEC+ technical group, the Joint Technical Committee that studies market fundamentals, canceled a virtual meeting originally scheduled for Jan. 31, according to a delegate. Neither committee can outright decide OPEC+ production policy, but the JMMC can recommend plans ... (full story)

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  • Category: Fundamental Analysis