Explained: Why Opec+ members find it hard to agree oil production quotas

OPEC+ oil producers are set to meet on Thursday having postponed a November 26 meeting with group sources saying production targets were one of the key flashpoints of disagreement.

WHY ARE QUOTA DISCUSSIONS SO FRAUGHT?

OPEC+ negotiations over production quotas have often been difficult in the past.

Oil production tends to vary month by month, making it difficult to fix on a permanent production target.

So the higher a production reference level a country can negotiate, the less it actually has to cut to comply with its targets.