OPEC+ sticks with oil policy as prices rise towards one-year high
LONDON (Reuters) – OPEC+ maintained its oil output policy at a meeting on Wednesday, a sign producers are happy that their deep supply cuts are draining inventories despite an uncertain outlook for a recovery in demand as the pandemic lingers.
A Joint Ministerial Monitoring Committee of OPEC+ met virtually on Wednesday, pronouncing itself “optimistic for (a) year of recovery in 2021,” a statement issued after the meeting said.
