A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024.
The OPEC+ oil alliance postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources told CNBC.
The coalition, made up of the Organization of the Petroleum Exporting Countries and its allies, was initially scheduled to meet on Dec. 1.
The OPEC+ coalition is currently operating three sets of separate oil production cuts, in response to an uncertain demand outlook.
Under its formal output strategy, member nations are curtailing their combined production to 39.725 million barrels per day (bpd) into next year.
Organizations:
Organization of, Petroleum, CNBC
Locations:
United Nations, Baku, Azerbaijan, OPEC, Kuwait City, Kuwait