Energy

Production policy in focus as oil prices climb

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An oil pumping jack, also known as a “nodding donkey”, in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020.

Andrey Rudakov | Bloomberg | Getty Images

LONDON — A group of some of the world’s most powerful oil producers will meet on Thursday to decide the next phase of their production policy.

OPEC and non-OPEC partners, an energy alliance often referred to as OPEC+, will convene via videoconference at 2 p.m. London time.

The meeting comes at a time when OPEC+ is relatively upbeat about improved market conditions and the outlook for fuel demand growth following a sharp rebound in oil prices over the first six months of the year.

The Middle…



Source cnbc.com

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