The OPEC+ alliance postpones its meeting to November 30

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The Organization of the Petroleum Exporting Countries (OPEC) said that the OPEC+ alliance meeting scheduled for November 26 has been postponed until the 30th of the same month.

This came in a statement issued by the organization on Wednesday.

The statement stated that the ministerial meeting scheduled for November 26 and the meeting at the technical level on the 25th of the same month were postponed until November 30.

The statement did not give any reasons for postponement, at a time when global oil markets are witnessing price confusion within the range of $79-$94 per barrel of Brent since the outbreak of Middle East tensions.

The coalition is currently implementing reductions in oil production by 3.66 million barrels per day, equivalent to 3.6 percent of global demand for crude until the end of 2024.