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OPEC+ could delay organized December oil output walking, sources say

OPEC+ could postpone a. planned hike in oil production arranged to take effect in. December by a month or more, three sources informed Reuters on. Wednesday, pointing out concern about soft oil need and increasing. supply.

The prepared 180,000 barrels per day hike in December, which. is arranged to come from the 8 OPEC+ members who have been. making the group's newest layer of output cuts, was already. postponed from October in the middle of falling rates.

Two of the sources, who are people familiar with OPEC+. talks, stated the December increase might be postponed for a month. a minimum of, while the third, an OPEC+ delegate, did not define a. time frame. All decreased to be identified by name.

A choice to postpone the hike might come as early as next. week, two of the sources stated.

OPEC+ is scheduled to satisfy on Dec. 1 to decide its next. policy actions.

OPEC and the Saudi federal government communications workplace did not. immediately respond to requests for remark.

(source: Reuters)