Weekend oil news - OPEC meetings delayed in light of Omicron variant

OPEC+ is delaying its two technical meetings scheduled for Monday and Tuesday by 48 hours:

• OPEC's Joint Technical Committee and the Joint Ministerial Monitoring Committee (JTC and JMMC respectively), will now meet on Wednesday and Thursday (1 and 2 December).

This is in order to allow more time to assess the market in light of the new COVID-19 variant concerns.

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• The JTC's role is to make an assessment of energy markets, the supply and demand balance, for OPEC ministers to consider when making cartel policy.
• JMMC tracks the compliance of Opec+ members with their production quotas.

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November 29, 2021 at 09:33AM
Eamonn Sheridan
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