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OPEC+ has agreed to roll over its existing output policy, just a day after the Group of Seven nations decided to put a price cap on Russian energy supplies.  The decision was made at the 34th OPEC and non-OPEC Ministerial Meeting, which was held virtually, on Dec. 4, 2022. OPEC+’s key ministers will next meet on Feb. 1 for a monitoring committee while a full meeting is scheduled for June 3-4.

OPEC+ maintains status quo on output amid fresh price cap on Russian oil

OPEC+ has agreed to roll over its existing output policy, just a day after the Group of Seven nations decided to put a price cap on Russian energy supplies.  The decision was made at the 34th OPEC and non-OPEC Ministerial Meeting, which was held virtually, on Dec. 4, 2022. OPEC+’s key ministers will next meet on Feb. 1 for a monitoring committee while a full meeting is scheduled for June 3-4.

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