DUBAI, Sept 29 (Reuters) – Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct. 5, three sources told Reuters.
One OPEC source told Reuters a cut was "likely", while two other OPEC+ sources said key members had spoken about the topic.
A source familiar with Russian thinking told Reuters earlier this week that Moscow could suggest a cut of up to 1 million barrels per day (bpd). read more
The latest comments suggest that key OPEC members have started communicating over the matter, although the volume of any potential cut is still unclear.
Next week's meeting takes place against a backdrop of falling oil prices from multi-year highs hit in March, and severe market volatility.
OPEC+, which combines OPEC countries and allies such as Russia, agreed a small oil output cut of 100,000 barrels a day at its September meeting to bolster prices. read more
Top OPEC producer Saudi Arabia flagged in August the possibility of output cuts to address market volatility.
Our Standards: The Thomson Reuters Trust Principles.
A European Union agreement on a gas price cap means an end to market manipulation by Russia and Gazprom, Poland's prime minister said on Monday.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved
OPEC+ has begun talks on output cut at Oct. 5 meeting – OPEC source – Reuters
