December 3, 2020

OPEC+ panel shifts date of subsequent assembly to Aug 19th: Sources

LONDON: An OPEC+ ministerial panel monitoring the group’s oil provide discount deal will maintain its subsequent digital assembly on Aug. 19, a day later than beforehand deliberate, three OPEC+ sources mentioned on Friday, with out giving a motive for the date change.

The panel, referred to as the Joint Ministerial Monitoring Committee (JMMC), advises the Group of the Petroleum Exporting International locations and allies together with Russia, a bunch referred to as OPEC+.

OPEC+ has been chopping output since Could to deal with the fallout from the Covid-19 pandemic.

Final month the JMMC beneficial that the lower be eased from Aug. 1 to about 7.7 million barrels per day (bpd) from a discount of 9.7 million bpd beforehand, in step with an earlier OPEC+ settlement. That change was carried out this month.

Russian Power Minister Alexander Novak mentioned on Thursday there have been no extra proposals to alter the deal.