The OPEC+ committee ‘closely assesses’ the market but makes no recommendations on oil quotas

A significant OPEC+ advisory group remained silent on production policy on February 1, thereby maintaining the present output restrictions. Under the co-chair ship of Saudi Arabia and Russia, the Joint Ministerial Monitoring Committee declared that it would “continue to closely assess market conditions” and that the 22-member producer coalition was prepared to modify output levels…

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Crude oil rises as supply curbs by OPEC+ are anticipated to continue or intensify

Due to predictions that OPEC+ would expand or intensify production restrictions, crude oil prices ended the day up 1.17% at 6488. Market anticipation has increased due to ongoing discussions within OPEC+ about the oil policy for 2024; there is no anticipated delay to the planned meeting on Thursday. Previous difficult OPEC+ production quota discussions, most…

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