Opec+ members are close to postponing planned increases to oil production for at least two months, as weaker than expected demand pushes prices to around their lowest levels this year.
Key members of the producer group, including Saudi Arabia, Russia and the United Arab Emirates, were due to begin unwinding voluntary output cuts from the start of October but in recent days have been discussing delaying the increases, according to people with knowledge of the deliberations.
While the members are yet to make a final decision, the people said, the group was considering keeping the curbs in place until after Opec+ members have met in person at the next scheduled meeting in Vienna on December 1. An announcement is expected imminently, they added.
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