Will OPEC+ Increase Curbs on Crude Production?

According to Iraq's oil minister, Thamer Ghadhban, OPEC+ members could potentially explore increasing production cuts over weakening demand

Arslan Butt•Wednesday, September 11, 2019•1 min read

According to Iraq’s oil minister, Thamer Ghadhban, OPEC+ members could potentially explore increasing production cuts over weakening demand for crude oil in global markets. OPEC and its allies are due to meet on Thursday.

Ghadhban is also planning to meet with his counterparts from Saudi Arabia and Russian later today, and the issue of output curbs is likely to come up then. OPEC+ countries have agreed to cut crude production by 1.2 million bpd till early next year in the face of a potential slowdown in the global economy.

On the release of this news, WTI crude oil has surged higher and is currently trading at around $58.20 per barrel.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.