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30 November 2022 | Other

OPEC+ is unlikely to change its policy ahead of the decision to cap oil prices from Russia

Brent
WTI Light Crude Oil

Reuters reports that OPEC+'s decision to set a meeting on Dec. 4 may indicate no changes to the organization's policy in the coming days.

The virtual meeting will also focus on the European Union's upcoming agreement to cap Russian oil prices. The decision is due to take effect by Dec. 5 in connection with a subsequent embargo on Russian oil supplies.

The news agency also added that the OPEC+ organization would prefer to refrain from making any unequivocal statements at this time until the results are summarized on Monday. 

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