What will happen at the group meeting "OPEC+" Today?

Today, Wednesday, the countries of the OPEC+ group will hold a series of meetings to determine the parameters of an agreement that aims to reduce oil production for member countries for the month of September.

At the first stage, members of the Ministerial Monitoring Committee of the OPEC+ group will meet at 14:00 Moscow time and, based on an analysis of the world oil market, will present a recommendation on production rates for the next month.

And then, at 14:30 Moscow time, in the format of a videoconference, a meeting of all heads of delegations of the countries participating in the agreement will take place, which will make a final decision on the fate of the deal next September. .

Oil markets are awaiting the results of the meeting, and this comes at a time when oil markets are under pressure from the possibility of higher demand for oil and fears that major economies will enter a phase of economic stagnation, which will affect demand.

Source: RT+Prime