Wall Street Journal citing "unnamed people familiar with the matter".

  • it is likely OPEC+ will keep its output steady when it meets Monday
  • Russia is concerned that a production cut would signal to oil buyers that crude supply is outstripping global demand
  • Moscow is more concerned about maintaining influence in negotiations with Asian buyers who bought its crude after Europeans and the U.S. began shunning it this year, the people said


At the margin this is an oil-price positive.

As I noted earlier it's a US holiday on Monday, this will shut markets. Energy futures markets will open Sunday evening for screen trade though, opening at 5pm US Central Time (2200 GMT)

cme labor day holiday schedule