OPEC+ sticks to oil policy, repeats could pause Oct hike

1 August 2024, 12:00 am

1 min read

A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger

Reuters was first to report that a meeting of top OPEC+ ministers kept oil output policy unchanged including a plan to start unwinding output cuts from October. The oil producing group took the decision despite sharp oil price falls in recent weeks amid global demand concerns. Brent crude futures fell on the news settling down 1.6% below $80 a barrel.