Opep+ discusses production cut ahead of October 5 meeting – sources | Photo credit: Shutterstock
DUBAI, Sept 29 (Reuters) – Leading members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have started talks on a cut in crude output ahead of their meeting next week, officials said. to Reuters three sources within the organization and its partners.
One said a reduction in extractions is “likely”, while the other two said senior members of OPEC+ had raised the subject.
A source close to Russia, OPEC’s main ally, told Reuters this week that Moscow could advocate for a reduction in pumping of up to one million barrels per day (bpd).
The meeting scheduled for October 5 will take place against a backdrop of falling oil prices and high market volatility.
To support oil prices, OPEC+ decided at its September meeting to cut production by 100,000 barrels per day.
The price of a barrel of Brent, which had risen to 120 dollars in June, appears Thursday morning at 88.53 dollars (-0.88%). (Reportage Maha El Dahan and Olesya Astakhova; French version Claude Chendjou, edited by Kate Entringer)