OPEC+ to hold first in-person ministerial meeting in Vienna since 2020
The OPEC+ oil cartel will meet in Vienna at the ministerial level on October 5 to discuss future output strategy, according to a statement issued by the organisation.
It’s the first in-person meeting at the ministerial level for OPEC+ since March 2020 when Covid-19 restrictions moved the meeting online, Xinhua news agency reported.
Investors are awaiting the decision at next week’s OPEC+ meeting, as oil prices have recently tumbled over fears of an economic slowdown and demand contraction. Both the West Texas Intermediate (WTI) and the Brent crude have dropped from peaks of over $120 a barrel in June to about $80 a barrel.
