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1/14, 6:38 PM (Source: TeleTrader)
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OPEC may delay meeting to June - report

The Organization of the Petroleum Exporting Countries (OPEC) may move the OPEC+ policy meeting scheduled for March 5-6 to June, Russian News Agency TASS reported on Tuesday, quoting an unnamed source from OPEC.

Any March meeting would be "pointless," since all oil production data would be available from January only, the source said. As OPEC oil output limits expire in March, they could be extended until June to accommodate the new date for the policy meeting. A June meeting would also provide more time for all underperforming members "to improve" their compliance with the quotas, the source suggested.

Yesterday, OPEC Secretary-General Mohammed Barkindo stated that he expects the global oil market to be unbalanced in the first half of 2020.

Breaking the News / MS