OPEC+ expected not to change oil production policy

It is expected that the oil and power ministers of OPEC+ member countries will adhere to the production policy in the meeting to be held tomorrow.

According to the OPEC+ delegates, who gave information about the meeting to be held virtually on February 1 at 14.00 Turkish time, the Joint Ministerial Monitoring Committee to be held today will make a recommendation in the direction of not changing the current production policy.

However, the Committee may invite OPEC+ members for a full meeting if it deems necessary.

OPEC+, at its meeting in October, decided to cut production by 2 million barrels/day until the end of 2023.

Before tomorrow’s OPEC+ Joint Ministerial Monitoring Committee Meeting, there will be no OPEC+ Joint Technical Committee meeting today. It was decided not to hold the meeting because there was no new situation to discuss.