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OPEC+ Meets to Seek Compromise on Plan to Delay Output Hike

November 30, 2020

OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market.

The coalition that pumps half the world’s crude is debating whether to maintain its output restrictions at current levels by deferring the increase scheduled for January. Some members are concerned that global markets remain too fragile to absorb additional barrels — particularly after Libya’s output soared — while others are keen to sell more crude.

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