Opec+ will discuss a short extension of their production cuts at a meeting that looks set to be held sooner than planned.
The virtual gathering will focus on a proposal, favored by Saudi Arabia and its Gulf allies, to maintain record output curbs for an extra one to three months, one delegate said.
But two days after the idea of bringing forward the meeting by a few days to June 4 was first floated, delegates still hadn’t settled on the new date. Wrangling continued behind the scenes, delegates said.
“The Saudis are clearly looking for support from other members to keep production levels lower for longer,” Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd., told clients in a note.
