Major oil producers led by Saudi Arabia and Russia met on Sunday to discuss slashing output further in a bid to prop up prices.
The 13-member Organization of the Petroleum Exporting Countries (OPEC) is consulting with 10 other oil majors, including Russia, to review the grouping’s future output policy.
The in-person OPEC+ meeting is expected to start at the group’s headquarters in Vienna around midday local time (1000 GMT), two hours later than originally scheduled.
Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 26 countries may make deeper cuts.—AFP
