OPEC+ Holds Firm on Oil Policy Despite Price Drops, Plans Unchanged for October Increase
Reuters was first to report that a meeting of top OPEC+ ministers kept oil output policy unchanged including a plan to start unwinding output cuts from October. The oil producing group took the decision despite sharp oil price falls in recent weeks amid global demand concerns. Brent crude futures fell on the news settling down 1.6% below $80 a barrel.
The post OPEC+ sticks to oil policy, repeats could pause Oct hike appeared first on Reuters News Agency.
Analysis: OPEC+ has decided to keep oil output policy unchanged, despite recent price drops, and plans to begin unwinding output cuts in October. This decision could have implications for global oil markets and potentially impact oil prices in the coming months. Investors and consumers should monitor developments closely to stay informed about potential changes in the oil market that could affect their finances.
