OPEC meets on 30 November, more curbs on the way? - UOB
Analysts at UOB Group noted that market participants took a cautious approach ahead of an Organization of the Petroleum Exporting Countries (OPEC) meeting next week, where an extension of current price-supporting curbs on crude output are due to be discussed.
"The OPEC, together with a group of non-OPEC producers led by Russia, has been restraining output since the start of this year in a bid to end a global supply overhang and prop up prices. The deal to curb output is due to expire in March 2018, and OPEC meets on 30 November to discuss the outlook for the policy. The expectation is for the agreement to be extended to cover the whole of next year."