I think the market would take that as a sign of a continuation of current policy but that's a bit of a leap. During the pandemic, OPEC made plenty of big decisions virtually.
This report is just trickling out now WTI has dipped a bit. At first it was just floated but now it's confirmed. I'd like to understand the reasoning for why they're considering a virtual meeting so close to the meeting date before deciding.
Note this from Amena Bakr at Energy Intel.
You know, maybe it's not a coincidence that if Saudi Arabia and Iran advance, they're scheduled to play Sat/Sun.
WTI crude oil was last up $1.94 to $79.19.
