AIRLINK 58.99 Increased By ▲ 0.49 (0.84%)
BOP 6.29 Increased By ▲ 0.03 (0.48%)
CNERGY 4.18 Increased By ▲ 0.22 (5.56%)
DFML 16.15 Increased By ▲ 0.14 (0.87%)
DGKC 68.20 Decreased By ▼ -0.35 (-0.51%)
FCCL 18.20 Increased By ▲ 0.35 (1.96%)
FFBL 25.70 Increased By ▲ 0.20 (0.78%)
FFL 9.28 Increased By ▲ 0.08 (0.87%)
GGL 10.00 Increased By ▲ 0.20 (2.04%)
HBL 115.10 Increased By ▲ 1.10 (0.96%)
HUBC 112.50 Increased By ▲ 0.65 (0.58%)
HUMNL 6.63 Increased By ▲ 0.10 (1.53%)
KEL 4.46 Increased By ▲ 0.09 (2.06%)
KOSM 4.84 Increased By ▲ 0.25 (5.45%)
MLCF 38.12 Increased By ▲ 0.32 (0.85%)
OGDC 127.30 Increased By ▲ 1.86 (1.48%)
PAEL 22.70 Increased By ▲ 0.15 (0.67%)
PIAA 11.22 Increased By ▲ 0.09 (0.81%)
PIBTL 6.28 Increased By ▲ 0.10 (1.62%)
PPL 109.20 Increased By ▲ 0.20 (0.18%)
PRL 27.72 Increased By ▲ 0.91 (3.39%)
PTC 10.85 Increased By ▲ 0.30 (2.84%)
SEARL 53.40 Increased By ▲ 0.70 (1.33%)
SNGP 67.60 Increased By ▲ 1.25 (1.88%)
SSGC 11.10 Increased By ▲ 0.08 (0.73%)
TELE 7.17 Increased By ▲ 0.03 (0.42%)
TPLP 11.91 Decreased By ▼ -0.09 (-0.75%)
TRG 77.10 Increased By ▲ 0.65 (0.85%)
UNITY 21.61 Increased By ▲ 1.20 (5.88%)
WTL 1.30 Decreased By ▼ -0.01 (-0.76%)
BR100 6,503 Increased By 62.5 (0.97%)
BR30 22,370 Increased By 271.4 (1.23%)
KSE100 63,411 Increased By 595.6 (0.95%)
KSE30 21,334 Increased By 200.4 (0.95%)

LONDON: OPEC+ talks on oil policy are difficult, making a rollover a possibility rather than deeper production cuts to support the market, four OPEC+ sources said on Tuesday.

The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known as OPEC+, is currently scheduled to meet online on Thursday to decide oil output levels in 2024, according to a draft agenda seen by Reuters on Monday.

A further delay to the meeting is possible, the sources indicated.

OPEC head accuses IEA of vilifying fossil fuel industry

The meeting was already delayed from Nov. 26. OPEC+ sources said this was because of a disagreement over output levels for African producers, although sources have since said the group has moved closer to a compromise on this point.

Oil prices pared an earlier gain on Tuesday, with Brent crude trading just above $80 a barrel by 1355 GMT.

Saudi Arabia, Russia and other members of OPEC+ have already pledged total oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022.

This includes Saudi Arabia’s additional voluntary production cut of 1 million bpd which is due to expire at the end of December, and a Russian export cut of 300,000 bpd also until the end of the year.

Comments

200 characters