(Finance) – Prices recovering for oil, after that OPEC+ has decided to postpone the meeting scheduled for Sunday December 1st to Thursday 5 Decemberto decide on the new production policy and find an agreement on the possible postponement of increases in production quotas.
The futures on Brent trades up 0.47% at 73.16 dollars a barrel, while the contract on West Texas Intermediate gains 0.46% to 69.03 dollars a barrel.
OPEC+ said it had postponed the meeting to avoid conflicts with another event, the 45th Gulf States summit, which will be held on December 1 in Kuwait. OPEC+ sourcesmeanwhile, have confirmed that next week it will be discussed again by one further postponement of production increases for the month of January.
Meanwhile, the last one EIA inventory report fell short of expectationsreporting an increase of 3.3 million barrels for gasoline, while crude oil stocks fell by 1,8 million barrels and distillate stocks increased by 0.4 million.