OPEC+ talks tough, policy rollover possible

LONDON: OPEC+ talks on 2024 oil policy are difficult, making a rollover of the previous agreement a possibility rather than deeper production cuts, four OPEC+ sources said on Tuesday.

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

A further delay to the meeting is possible, the sources indicated. Two of the sources said an additional cut - a step that sources have said would be looked at - was not being actively discussed.

“Everyone is just holding their positions,” one of the sources said.