DUBAI (Reuters) – The OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change, a source with direct knowledge of the matter told Reuters on Wednesday.
A virtual meeting also puts the focus on the pending European Union deal on a price cap on Russian oil ahead of a Dec. 5 deadline imposed by the bloc for a full embargo on purchases of Moscow’s seaborne crude.
“OPEC+ would rather sit on the bench at this time and assess the outcome of what happens on Monday,” the source added.
(Reporting by Maha El Dahan; Editing by Kim Coghill)
