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4 Hours Ago

OPEC+ oil group to hold virtual meeting on Nov. 30

Opec logo displayed on a smart phone with Opec seen in the background, in this photo illustration. On 10 September 2023. In Brussels, Belgium. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images)

Nurphoto | Nurphoto | Getty Images

The influential oil group reuniting the Organization of the Petroleum Exporting Countries and its allies will hold a virtual meeting to decide crude production strategy on Nov. 30, the OPEC Secretariat said.

The group, collectively known as OPEC+, was supposed to convene in person in Vienna over Nov. 25-26 but has since postponed its meeting amid inter-member disgruntlement — weighing on intraday prices on Thursday.

The Ice Brent contract with January expiry was trading at $80.30 per barrel at 2:10 p.m. London time, down by $1.66 per barrel from the Wednesday settlement. The Nymex WTI…

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