OPEC+ might put on the war paint next week
OPEC+ weighs a shift, according to a report
The WSJ reports that OPEC leaders are considering a push to pause planned production increases, citing people familiar with discussions.
To compensate for the new supply, Riyadh and Moscow are now considering a pause of the group's monthly collective increase, OPEC delegates said. The U.A.E., a powerful OPEC member that has clashed with Saudi Arabia over OPEC policy in the past, and Kuwait are resisting a pause, according to the delegates.
The cover for cutting output would be fresh covid lockdowns in Europe.
The oil market hasn't reacted to this report.
The OPEC+ decision is next week.