Representatives of OPEC+ member countries will meet in person at the organization’s headquarters in Vienna on October 5. The corresponding statement was made in the press service of the organization.
As noted in the message, Vienna will host a meeting of the Ministerial Monitoring Committee and a meeting of ministers of the OPEC + member countries. This meeting will be the first face-to-face OPEC+ meeting since March 2020, when the event was moved to a remote format due to the COVID-19 pandemic.
According to Reuters, OPEC+ is exploring the possibility of cutting oil production in November by 0.5-1 million barrels per day to support the oil market. Before, OPEC+ reduced oil production in the agreement countries by 100,000 barrels per day for October.