Today’s OPEC+ Meeting: The Media Got it Wrong!
Dec 05, 2024
Let us look at some of these stories:
Reuters: Oil slips ahead of OPEC+ decision on production cuts
Reuters: OPEC+ likely to prolong oil cuts for Q1, sources say
Bloomberg: Oil Traders Are Looking Beyond This Week’s OPEC+ Meeting
Bloomberg: OPEC+ Is Firming Up Deal for Three-Month Delay to Output Hike
Financial Times: Opec expected to extend oil output cuts as it waits on Trump
What Is The Problem?
The OPEC+ meeting that is scheduled for today, Thursday, December 5 is an “OPEC+” meeting. OPEC+ has already decided last June to extend its production cuts to the end of 2025! So what cuts will be delayed for the first quarter of 2025 that the media is talking about? Details below.