Russian Energy Minister Alexander Novak was on the wires last hour, via Reuters, offering his expectations from the OPEC+ meeting due to be held in Vienna on Dec 5th-6th.
Key Quotes:
OPEC+ to have standard agenda in meeting next week.
OPEC+ to discuss compliance and market outlook in the meeting.
It’s widely expected that the OPEC+ will make no changes to its output cut policy next week.
- CME OPEC Watch Tool: Probability of OPEC+ maintaining output cuts stands at 81.51%
Meanwhile, both crude benchmarks have returned to the green zone in Europe, looking to resume the recent move up. WTI nears $ 58.50 while Brent hovers around $ 63.30.
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