Will OPEC+ Increase Curbs on Crude Production? - Forex News by FX Leaders
WTI crude oil

Will OPEC+ Increase Curbs on Crude Production?

Posted Wednesday, September 11, 2019 by
Arslan Butt • 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

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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