OPEC+ to Hold Oil Policy Meeting Online

OPEC+ will hold its Dec. 1 oil policy meeting online, two OPEC+ sources said on Monday, with the producer group set to discuss a further delay to plans to raise output.

OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, might again push back output increases because of weak global oil demand, OPEC+ sources told Reuters last week.

Both of the sources on Monday declined to be identified by name. OPEC, which has not specified the format of the meeting, did not respond immediately to a request for comment.

When the full OPEC+ group held its last policy meeting in June, most ministers attended online. However, those from the small group of eight countries that are making the group's most recent round of voluntary oil ouput cuts held a last-minute in-person meeting in Riyadh, the Saudi capital.

One OPEC+ source said there was a possibility of a similar meeting taking place this time in one of the GCC countries, though no plan for such a gathering had been circulated.