OPEC’s 186th ministerial concludes amid speculations of another output cut

The ministers of oil of the OPEC member countries concluded their 186th regular meeting in Vienna on Saturday on the eve of the ministerial meeting of the OPEC+ alliance.

Emerging from the meeting, the ministers declined to make any press comments, which aroused speculations of a further production cut, that could be decided at tomorrow, Sunday.

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) is scheduled to convene tomorrow morning at the OPEC HQ tomorrow morning to set the stage for the plenary meeting of the 13-member alliance.

The JMMC will present its regular report on the oil market to the OPEC+ ministers to help them decide on the production levels, according to an earlier statement from OPEC media center.

Kuwait’s Minister of Finance, Minister of State for Evonomic and Investment Affairs and Minister of Oil Manaf Al-Hajeri leads the country’s delegation to the meetings.

Source: Kuwait News Agency