OPEC+ panel unlikely to tweak oil policy at Feb. 1 meeting, sources say

LONDON: An OPEC+ panel is likely to endorse the producer group’s current oil output policy when it meets next week, five OPEC+ sources said on Tuesday, as hopes of a Chinese demand recovery driving an oil price rally are balanced by economic concerns.

Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, meet on Feb. 1. The panel, called the Joint Ministerial Monitoring Committee (JMMC), can call for a full OPEC+ meeting if warranted.

“I don’t expect changes,” one OPEC+ source said.

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