OPEC+ is scheduled to meet on December 1.

Reuters (out overnight) cite unnamed sources for info:

  • It may push back output increases when it meets on Dec. 1
  • due to weak global oil demand
  • according to three OPEC+ sources familiar with the discussions
  • Ministers last shelved the increase for a month when they met virtually on Nov. 3
  • Two other OPEC+ sources said it was too early to say what the group will decide.
opec russia saudi putin

If you think that OPEC+ is just Saudi Arabia and Russia you'd be off track ... but not by too much, these two are the biggies.