OPEC+ Meeting Postponed To A Later Date

OPEC+ Meeting Postponed To A Later Date OPEC+ meeting was postponed to a later date. The meeting was postponed due to the lack of agreement on whether the oil production increases will be realized as planned by January during the meetings held on Monday. The meeting to be held on Tuesday for OPEC members and ministers of non-cartel oil producers was postponed for two days. According to the news in Bloomberg, the meeting was postponed due to the failure to reach an agreement on whether the oil production increases will be realized as planned by January in the talks held on Monday. In the letter that Bloomberg saw, it was noted that the talks were decided to be held on December 3 for further consultation. At the beginning of the talks, although an agreement to extend the duration of production cuts seems to be reached, tensions unexpectedly escalated and Saudi Arabia's energy minister stated that he may resign as vice president of the OPEC+ panel. In preliminary talks on Sunday, the United Arab Emirates and Kazakhstan opposed the continued production cuts. If no agreement is reached, the production of 1.9 million barrels of oil, which was previously cut daily, will begin.