OPEC+ PRODUCTION IS STABLE
AN - August 03, 2022 - The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are set to meet on Wednesday to discuss rising production amid pressure from the US to see more output from the alliance.
The Joint Technical Committee of OPEC+, which includes Russia, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day to 800,000 bpd, two delegates told Reuters on Tuesday.
The JTC met on Tuesday ahead of the ministerial meeting of the alliance.
The 31st OPEC and non-OPEC Ministerial Meeting is slated to convene at 13:30 central European time via videoconference.