OPEC+ postpones meeting on oil output to December 5 [Video]

The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output.

The 22-member OPEC+ group led by Saudi Arabia and Russia was due to decide on its 2025 output policy at a ministerial meeting originally scheduled for Sunday.

But the Vienna-based Organization of the Petroleum Exporting Countries (OPEC) said in a statement Thursday that the meeting was “rescheduled” to December 5 “as several Ministers will be attending the 45th Gulf Summit in Kuwait City”.

An OPEC spokesman told AFP that the December meeting will be held online.

In a bid to boost crude prices, eight OPEC+ members announced earlier this month they were extending supply cuts until the end of December.

In recent days, oil prices had won support from the prospect that key OPEC+ members would delay a pick-up …